How much drilling activity is currently going on near Newburg, ND, and what is the going rate for a lease? I currently have a lease with Diamond out of Williston that started a couple of years ago and it seems that the terms of my lease are quite low compared to what I've seen lately. I own half the mineral rights on 160 acres and received $800. Any feedback would be appreciated.
Sounds like you received a lease bonus of $10 per net mineral acre. When does your lease expire? You should be able to do much better than this.
It expires in 2012.
Typical Diamond lowball deal. Pray they dont drill and shop it around next time.