Does anyone know what is happening in the area of Township 25 & 26 Range 51? I am unleased but have had a response requesting a lease. I do not have any idea what is going on in that area. Any information would be helpful.
I have 6 acres in Township 21 Range 59 Section 26. I leased it in January of this year for $375.00 per acre for a 3-year lease and 18 percent royalty. My understanding is the area is very wanted, but it’s hard to know as the people who want to lease your land never get back with you after they have got your signature on the dotted line. Good luck to you.
Leonard:
Looking at the map, numerous wells (some possibly older wells) are located in the T25N;R52E area also in T24N;R52E. Some plugged wells in the T25 & 26 areas to the West but no significant activity to speak of in these far West areas. I’m not sure the bonus/acre amount for this area but I would do some further research and not get in a hurry to take the first offer as the activity could be headed into these areas. By all means, keep your lease to a max of 3 years. In my opinion, I would wait and see what happens over the next year in these areas as your negotiation power will increase as the activity increases. Good luck!!
leonard:
Looking at the map, numerous wells (some possibly older wells) are located in the T25N;R52E area also in T24N;R52E. Some plugged wells in the T25 & 26 areas to the West but no significant activity to speak of in these far West areas. I’m not sure the bonus/acre amount for this area but I would do some further research and not get in a hurry to take the first offer as the activity could be headed into these areas. By all means, keep your lease to a max of 3 years. In my opinion, I would wait and see what happens over the next year in these areas as your negotiation power will increase as the activity increases. Good luck!!
Thank you for the info. Another question I have is how do they determine net acres. One of the old leases said 241.9 gross acres 11.31 net acres.
charles s mallory said:
leonard:
Looking at the map, numerous wells (some possibly older wells) are located in the T25N;R52E area also in T24N;R52E. Some plugged wells in the T25 & 26 areas to the West but no significant activity to speak of in these far West areas. I’m not sure the bonus/acre amount for this area but I would do some further research and not get in a hurry to take the first offer as the activity could be headed into these areas. By all means, keep your lease to a max of 3 years. In my opinion, I would wait and see what happens over the next year in these areas as your negotiation power will increase as the activity increases. Good luck!!
leonard:
The net mineral acres is what you own within the total gross acres. This is the acreage that is inherited or bought by yourself. The acreage spacing unit is approved by the Montana Oil and Gas and you must determine if your net minerals are contained within that spacing unit.
leonard readicker said:
Thank you for the info. Another question I have is how do they determine net acres. One of the old leases said 241.9 gross acres 11.31 net acres.
charles s mallory said:
leonard:
Looking at the map, numerous wells (some possibly older wells) are located in the T25N;R52E area also in T24N;R52E. Some plugged wells in the T25 & 26 areas to the West but no significant activity to speak of in these far West areas. I’m not sure the bonus/acre amount for this area but I would do some further research and not get in a hurry to take the first offer as the activity could be headed into these areas. By all means, keep your lease to a max of 3 years. In my opinion, I would wait and see what happens over the next year in these areas as your negotiation power will increase as the activity increases. Good luck!!