Wondering current lease and royalty rates for Burke Co, ND 159N 90W. Any insight appreciated
Welcome to the forum.
Main leasing agent in that township in the last 24 months has been Diamond Resources. There are a few others. Royalty rates look like 15-18.75%. Bonus amounts are not posted so local folks on the forum would need to comment. Most recent permits were filed by Hunt as operator for horizontals.
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Laura, Are you receiving offers? I have not seen a lot of activity in this area. I have unleased rights in Burke County 163N-90W- Sec 6 SE1/4.
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I just recently (late April} leased a few acres: Township 161 North, Range 94 West 5th P.M. Sec. 12: NE $800 / acre 18.75 royalty
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Hi Dale,
Thank you for the response. Can I ask who you winded up leasing with?
A few years ago we signed with what was Liberty Resouces which is now Silverhill. We’re in Sec19-T161N-R93W. We had been with Diamond Resources/Continental with our lease before that. Our royalties are at 18.75. Bonus amount really doesn’t matter, as the royalty is the most important part. They have started doing more in this area of Burke County, more than when we signed, so I would play your cards right and not take what is offered right off the start. Silverhill is just finishing a well in 159 but can’t remember the range/section. You can look at the Confidential Oil List ND and see what’s in your area too.
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I leased with Phoenix, I got a letter this week from Lynx offering $1125/ acre for a straight 4 years. Same land I already leased, but they are trying to contact my siblings. So it might be heating up.
I have interests in 160 92 Sec 2. Was offered 17% and $150 an acre. Which is a big NO.
Hello Ms. Barnes, would you recommend any mineral owner attorneys in Bismarck. Thinking about trying a formal protest in a forth coming force pooling application (I assume the hearings are in Bismarck.) In the past have contacted a few firms up there and no one wants a mineral owner client as most all oil & gas attorneys are tied to the operators. Thanks in advance for response, Duck.
Generally speaking, the Bakken lateral wells are getting longer, so the pools are getting bigger.
I do not know any, but you might use the search magnifying glass to see if others have posted about good attorneys. I see to remember seeing a few in the last few months. They do not need to be in Burke County, but do need to be licensed in ND.
So glad I found this, I was just offered &150/ acre at 17% royalty for 400 acres, thinking a huge NO!
Does anyone know anything about Dakota Energy?
Where are your minerals located? County, Township, Range, Section. That would help. Thanks and good luck. All those offers sound super low, but not sure where your minerals are.
Beth
Big No is right? How dare they!
Depending upon where you are in Burke, 1/6th is quite common. (16.66667%) Depends upon the reservoir geology and the competition. There are some rare 20% leases.
Burke County, Township 161N, Range 91W, sections 20 & 29. I was mistaken, $7500 for a 3 year lease and 17% royalty. 400 acres is $18.75/acre. Talk about low!
You may not own all 400 acres. Ask the agent what net acres they are carrying for you and how many they want to lease. If you have an old lease, the gross acres are listed, not the net. Then your per acre offer is higher for the net acres. 16.67% is the going royalty for leases in those sections in the last 24 months.
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