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.
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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