Can anyone briefly explain the Dormant Mineral Statute as it applies in North Dakota?
It's not brief but here is Chapter 38-18.1 of the Century Code "TERMINATION OF MINERAL INTEREST", it's really simple and straight forward though.
Mineral Joe:
Thanks for the website info. I was thinking about our mineral interest in ND today and this topic entered my thought. Hopefully, drilling will be picking up in Willams County this year so want to be sure all my bases are covered. Thanks Again.
Mineral Joe said:
It's not brief but here is Chapter 38-18.1 of the Century Code "TERMINATION OF MINERAL INTEREST", it's really simple and straight forward though.
Your welcome Charles. You have 20 years between before something would need to be done like filing a lease or you can just file a statement of claim which If you need I can send you.
Mineral Joe:
The mineral rights we have in ND was transferred from my mother-laws name to my wife's name in 2003. This was done by an attorney. Since that time, we have leased the minerals in 2004 and 2008 and currently they are under lease until 2012. There has been no drilling activity on the area but currently it has been spaced and drilling activity is slowly progressing. These minerals are in Williams County and located near the Montana border. As I said earlier, I am just trying to cover all bases for the future in regards to protecting these minerals. Based on what I've said, do you think I need to file a statement of claim in regards to these minerals?
Mineral Joe said:
Your welcome Charles. You have 20 years between before something would need to be done like filing a lease or you can just file a statement of claim which If you need I can send you.
Charles,
Your good for 20 years from the filing of the lease in 2008 and as long thereafter there is operations, a nice producing well will do as operations. Any deed or conveyance being filed also works to restart the 20 year period. They're supposed to be picking up activity, one company alone was to move another 30 rigs up there this year.
Mineral Joe:
Thanks for you input into my situation. Sounds like we are in good shape in that area. I would not be disappointed if we were able to re-lease that area as today's rates and terms are much different from those in 2008. Currently, G-3 Operating has the area spaced but they aren't running but one or two rigs in the area. Thanks again for the info.
Mineral Joe said:
Charles,
Your good for 20 years from the filing of the lease in 2008 and as long thereafter there is operations, a nice producing well will do as operations. Any deed or conveyance being filed also works to restart the 20 year period. They're supposed to be picking up activity, one company alone was to move another 30 rigs up there this year.