Does anyone know what can be expected for oil lease terms in Dawson County, Montana? We have received a lease offering 70% bonus, and 16% royalty on our 160 acres in Township 21 north, Range 42 East in the Bakken Shale area. Has anyone received an offer in this area, and does anyone know who I might contact to find out the going rate?
thanks!
Did they offer you a bonus for the acreage? If yes, what did they offer? What do you mean by a 70% bonus? Try and find out what oil company the land man is working for?
Sorry, I meant $70 per net mineral acre bonus and 16% royalty. I asked the landman for the name of the oil company, but he said 'they don't want their name out there right now."
That should be $70 bonus per mineral acre and 16% royalty as the offer.
Katy: Who was the landman and what company does he work for? ...he is representing a drilling company.
doing some math on the recent state lands lease in May, the average net mineral acre was $591 in Dawson County, which was the largest sale by dollar amount in that sale. There was over 6000 acres leased out. Maybe someone can double-check my figures. You can google the may sale and find the information to confirm my numbers and to see if the your land is nearby. I thought I read somewhere that a lease sold for over $2000 per acre but I can't find that information today. I sure hope they find some nice wells and start some action as my family has mineral rights in Dawson County.