Going Rate for bonus and royalty

North Dakota Mineral Rights Williams County, ND
1

Hello all:

My mom and uncle each hold 80 acres of mineral rights on Township 153N, Range 102W, Section 31; this is southwest of Williston. Brigham Exploration currently holds the lease that expires in September. Today they received a letter explaining that Brigham currently has 300,000 acres under lease and cannot get things drilled within the life of the lease. They included an offer of a 3/16 royalty and $1500 bonus for a three-year extension. I have heard people are holding out and getting $2000-2500 bonus with a 20-25% royalty. Just wonder what you all think of this offer. They have 14 days to respond.

Also I was looking at the NDIC hearing docket and saw that EOG Resources filed an application to pool all interest in a spacing unit that contains Township 153N, Range 102W, Sections 30 and 31. I am wondering what this means. I had thought it meant that Brigham had sold the lease to EOG but now I have no clue. Any ideas.

My brothers and I live out of state and want what is best for our mother and our uncle.

Thanks

2

I would think $2,000 ba at 20% royalty would be attainable without too much negotiating.

If you know of any Brigham lease that has a higher royalty than 20%, I would like to hear about it.

Now that it is June… what happened with this offer?