We have a small amount of mineral acres (3.24) in T151N, R94W - Sections 34 and 35, which is on the Berthold Reservation (fee land) in McKenzie County. We were recently approached with a lease offer of $1500 per acre and 20% share for a 3 year lease. I know that the bulk of the other acres in the tract are already leased and they they plan to drill in the next 4-6 months. Those look like good terms to me (3 years ago land in the same spacing was leased for $150/18%/5 years). They seem high enough that I assume things must be looking good in the area. Anyone have any thoughts or additional information on the area? Thanks!
Sign the lease, if you haven’t already, those terms are really, really good.