Does anyone know the current bonus/acre amount for Williams County, ND. ? This area is located near the MT border; specifically in T157N;R103W;Section 29.
Best educated guess is $1,500 to $2,000 by operators or a little higher by non-ops. 20% royalty is normal. Section 29 is next to several Marathon and also Oasis permits. We have minerals nearby, but have not been contacted by anyone yet. Send me a message or Email at allen@cowdencapital.com if you have more questions.
Dear Mr. Mallory,
As I'm certain an experienced guy like you knows, Cody took a BLM lease near you recently and there are 2- standup 1280's permitted to the east a couple of miles, and one across the line in Montana. At least 4 State leases have been issued in the township. I would use those competitive leases as a guide and wait for completion reports on the permitted wells and be ready with a long term lease that the good operators will happily pay for but the speculator's won't. But you know that already.. As you also know you are in a good geological area for the long term.
Gary:
I was aware of the permited wells in ND but not the one in MT. The majority of our minerals are located in Northern Roosevelt County and Southern Sheridan Co. just across the ND border so that is good news. Also, Marathon has a permit in ND located beside our section, in sections 30 & 31 (Ione Barstad). We also have minerals in Section 31 but only 17 acres. I understand that Triangle has extensive drilling plans around this area, some in ND and in MT. They have acquired their own completion company and will be drilling four or more wells on a spacing unit at one time before the rig moves to another lease. This is what I have read but as long as I have been keeping up with these companies, I'll just wait and see how this shakes out. Thanks again for the information. Maybe we will eventually get drilled on over the next couple of years.
Gary L. Hutchinson said:
Dear Mr. Mallory,
As I'm certain an experienced guy like you knows, Cody took a BLM lease near you recently and there are 2- standup 1280's permitted to the east a couple of miles, and one across the line in Montana. At least 4 State leases have been issued in the township. I would use those competitive leases as a guide and wait for completion reports on the permitted wells and be ready with a long term lease that the good operators will happily pay for but the speculator's won't. But you know that already.. As you also know you are in a good geological area for the long term.
Gary L. Hutchinson
Minerals Management