In the Township 154 North Range 94West 5th PM Section 5 Lots 1,2,3,4 XTO Holdings offers $2500 per net mineral acre 3 year lease 20% Royalty Containing 159.84 acres more or less Does this sound like a reasonable offer I believe at least one Well is in production thanks
Hi there. Hess has five permits on your acreage but honestly this seems like a pretty good offer. You might be able to do a touch better with the lease bonus, but a 20% royalty is usually the top for North Dakota absent some extenuating circumstances.
You may need to look at your old lease. If you already have production in one well, you may be held by production and not able to lease again. Are they trying to lease a different zone? Did you have a depth clause in your first lease?
Are you getting paid on the En-MOE-154-94 0508H-1?