Dunn County, ND - Oil & Gas Discussion archives

Mr. Huggins, I own minerals in Dunn and McKenzie county. My minerals are profitable to produce all the way down to $40 a barrel and as I have stated I have two recent wells and 5 more coming in the near future. I would be glad to point you in a direction that will show how much your minerals may be worth.

One of the best ways is to look at drilling activity. NDIC O&G divisions GIS server map will allow you to see wells drilled in your area when you search your legal descriptions.

The $50 per year Basic subscription to the NDIC O&G Division is money well spent in my opinion.

Some may lament that we are not going to see $100 oil prices again for some years. $100 oil was only necessary when they didn't know how to get the oil out efficiently. The operators were also overpaying for services during the frenzy.

Wells now cost 30% less to drill and they are technically better wells so if oil ever rises to $65-$70 a barrel it will be as profitable as it was at $100. My old wells have cost as much as 11 million dollars but the most expensive of my last two drilled or the 5 prospective wells is only 7.4 million and most are under 6.8 million and these are with 50% or more expensive frack stages. The most recent completed well from December 2015 produced 227,000 barrels of oil in 10 months and one month of that it was shut in and not producing. @$38 per barrel, it's paid for with a couple decades of profit ahead of it. I wouldn't be in a great hurry to sell as the price for the acres seems unaffected by collecting royalty for a couple years. I will send you a friend request. Let me know if I can help. I'm not a landman nor do I buy or sell minerals.

I received a ridiculously low offer from Wolf Resources LLc out of Colorado. $1,100 per net acre in a spacing 149-93 section 24 where 4 wells have produced a million barrels of oil since 2011 and with a new 5th well just completed! I e-mailed them to thank them for the offer and their e-mail didn't work.

I never see anyone else talking about sill being made offers after choosing to be a non consenting / carried interest in wells drilled on your minerals. My operator has changed from KOG who offered to buy me out or lease with each subsequent well. Whiting made similar offers. RimRock who is the current operator is feeling us out on a possible sale of our working interest. I have had other interesting offers but that was in McKenzie county.