If it has expired, I usually wait 90 days and then write the company and ask them to file a release. I send it certified, return receipt and keep a copy of everything. Some folks put the requirement in their lease.
One more time, Thank You so much.
You might want to contact the county district clerk in their county of ownership and ask. In North Dakota, you have to keep claiming your rights every 20 years or they revert back to the landowner. (unless they are productive). Check on the status of their lands and you may need to hire a title consultant or go through some kind of probate to see who should get them.
I have another question. Do the mineral rights ever go up for grabs when a person owns the rights but not the land, I have an aunt and an uncle who had no heirs and are now deceased and that had held the rights
Does anyone have a suggestion for a competent attorney in Mountrail County?
When they drill an exploration well, the operator can hold the results of that well as confidential for a certain amount of months (varies from state to state). Yours has now been released from its time frame, so you can look up the status of the well on the ND Oil & Gas site and get more information on it. You should have already received a division order if the well was productive.
Daniel: Way to spin. You sound like you use to be a car guy?
Let me fill in the missing language You are offering to buy assets that in the long run are worth far more even after accounting for risk and the time value of money than what you will offer. The fact the you utilize large numbers in your missives shows that you are more interested in employing sales technique as opposed to dispensing useful information. The folks that have significant holdings I’m sure are already aware of the issues involved in the management of their assets. You won’t be doing business with them anytime soon.
It’s the smaller owners that are at risk. Luckily for them, there are folks that post here that are far better informed than I am. They will correct what you say and point out that your have a financial interest that is adverse to the seller.
Daniel: You should read your own posts…
I am not soliciting right now, just expressing some of my experiences with real conversations I’ve had with mineral owners
It’s funny how offering people millions of dollars turns you into the bad guy LOL
As I said:
you can spin your “intent” all you want, but the good people of this forum can see right through you
Nuff said, Brian…
Daniel, you must realize a million dollars does not go far these days with the Federal reserve printing and the US dollar purchasing power going down. Enough said.
Thanks for the scenarios. so I guess the Bakken and the Three Forks are soon to be dry holes in the red river basin… speculation is like raisins to grapes or grapes to raisins seems like they are the same but look a little different… Is your glass half empty or is it half full? Brian…
Our family owns land in eastern North Dakota. We have owned it since the early 1880’s. My grand farther homesteaded and continued buying land his whole live. His children, my father, and other kept on buying land. We now have few thousand acres of land and have the 4th and 5th generation farming. The land is productive and has kept people with nice incomes. I don’t think selling this land would be a smart thing for anyone to do. In fact we are still buying and adding to the business.
Daniel, perhaps you should read the rules of the forum. No solicitations are allowed in the discussion groups. The MKT PLACE tab above is the proper venue.
My families land is high in agriculture income and creates a good family income. There is oil there but it is deep and not cost effective to drill for it with the current price or even $100 per barrel. This investment is 135 years old and produced a living income for 5 generations. Also sent all the children through college. I do not know of any capitial investment that will do that. You people need to look at history of other investments. Capital investments carry a currency value and since 1913 the US dollar has lost over 99%. of its purchasing power. So you need an investment that generates value and income which is over inflation. One interesting thing is land does not have a depletion factor.
To All Mineral Owners
1. Never **NEVER **sell or borrow againest your minerals.
2. Do not lease minerals instead do a working interest where the land man is out of the picture and cannot sell your remaining interest for himself.
If you lease and get 20% what happens to the other 80% ? The landman does a working interest or sells the 80% to oil investors or companies and they do a working interest. The only one that leases the mineral owner for a low percent so the others can do working interest for the larger portion
Remember at the end of the day it’s YOUR OIL they want a portion of . So why not keep 100% of your oil instead of 20% for you and 80% for them.
Ask the landman what happens to the 80% leased or working interest and how does it make his commission leasing or working interest?
MartAnne. I agree with you. My private interests do not have the land man in the picture. One of the companies has been in business for over 55 years and sent income for each one of those years. In fact my father and his friends started the company.
Be careful folks with buying. One of the private companies I own bought a large number of drilled, drilling and potential drilling oil wells in North Dakota. They have been selling some of this property where they are in marginal production areas. They are typically not selling in Mountrail and McKensie counties. One needs a first class Engineer to give you information on what to buy. Not a broker!!!
Greg, You are correct! “The long term benefits outweigh the short term effects”. An old mantra that is somewhat applicable here. Oil is not going to be at $40.00 forever…
Just a thought, Occidental did sell all of it’s Bakken acreage (and spun off it’s California holdings as well). Why? In my buddy’s words (works for Oxy): to focus on their Permian holdings.
A smart investor knows when to buy and sell. Common wisdom is what takes you off the side of a cliff.
But you’ll get demonized trying to sell in this forum, the people have spoken, this is for advice only. If you’ve got some cash, put your offer on the Mktplace forum and quit filling my inbox with unwanted emails, Daniel Baca. You thought you’d found a shortcut but you’re actually annoying.
Mr Hutchinson, thank you. All my life I have called North Dakota God’s Country. <smile>
Gary & Charles, Thank you both for years of thoughtful comments. I applaude your appreciate for those of us whose minerals have been owned for decades. From a great grand daughter of Norwegian immigrants who homesteaded the land and busted their asses.