Mineral interest in Mountrail county... how much does Bakken crude oil bring? Is this North Dakota Sweet? If so, I saw a posting of $73 per barrel and West Texas Intermediate was $90. Does this sound right?
Also, what is North Dakota severance tax for royalty owners?
Price received varies by location, quality of oil and how good the operator is at negotiating price. My oil from Dunn and McKenzie counties sold for $91.08 and $90 respectively in April.
I looked to see if you had ever posted your legal description on your home page and didn't find it, if I knew which was your well there is often some information on oil quality in the wellfiles, specific gravity, sulfer content and so on. It costs a little bit to remove any H2S gas which is possible but not likely in your oil. Transport is a major problem some places. I had one operator who was receiving $10 or more less than other operators producing my oil were receiving a mile away. Checking oil price.net it says WTI $95.67.
I normally allow 11.5% for production and severance tax combined, seems to work out for oil, they have a different way for figuring gas, but my wells don't produce a really significant [to me anyway] amount of gas, I'm just glad they are selling instead of burning it. My gas is selling for between $5.02 and $5.78 per mcf because it's pretty rich stuff.
My friend Andrew has a well operated by EOG where oil was selling for $105 a barrel and his other well by another operator was selling oil for $77 a barrel 8 months ago, of course the well getting $105 was only producing 3k barrels per month and the well getting $77 per barrel was producing 30k barrels per month, he would have liked to switch that.
Just a theory, if it's low price for brand new production, it could well be trucked and they may not have a good contract for the oil. Spot market prices always look low to me but I guess if the tanks are full and you have to sell it before you could produce any more, the operator makes the best deal they can for it.
Maybe someone can add to this.