dOES Any one know what is happening in the area of t 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 iformation would be helpful.
I have 6 acres in twn 21 range 59 section 26 I leased it in Jan of this yr for 375.00 per acre for a 3 yr lease and 18 percent royalty My understanding is the area is very wanted but its hard to know as the people who want to lease your land never get back with you after they have got your sig on the dotted line good luck to ya
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 negotion power will increase as the activity increases. Good luck!!
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 negotion 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 negotion 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 negotion power will increase as the activity increases. Good luck!!