Hi again everyone. I love this site. You folks are so helpful. Someone wrote in asking about the going rate for leases per acre in Blaine County. I would ask the same about Garfield County. I'm right on, or near, the edge of the Williston Basin. 16N-40E. I don't see a lot happening with exploration and only 3 inactive wells in my area. However, there may be some leasing going on.
Gordon, I haven't heard of any lease offers lately. Though over the past two years offers in Garfield Co. have started at about $20 per net acre with 1/8th royalty. Depending upon their interest, and with some negotiating, you may get perhaps $35 or slightly more with 3/16th instead. Yet for now it may pay you to just be patient and keep your ears open.
Current activity (permits / drilling) in Garfield Co. is limited and it's primarily along the southern county line well to the SW of your location. Interest is in the Heath Shale rather than the Bakken formation. This "play" has really just begun so it's too early to say if it will pan out. Very few wells have been drilled and except for one dry hole I've heard of it is almost all confidential.
If their early wells turn out to be producers, leasing activity in the county may take off. Though a bunch of acres have been blocked up at the rates shown above in the 'core' area. It's far from certain this will develop into an active oil play but they are looking and we are hopeful. Hope this helps. Good Luck.
Thanks so much. Very helpful info. I'm hearing now about the Heath which are closer to my parcel. In fact mine is included in that formation. Will be keeping an eye on that. It seems a bit hush hush yet.