I have recently been approached about a oil lease in Sheridan County, MT. My mineral rights are in T33N, R58E. I feel that the bonus and royalty are too low (the bonus offer is 1/2 what I was offered for my mineral estate a few miles to the east in ND). Would anyone be willing to share with me (publicly or privately) what the current offers for the bonus and royalty are? I do recognize this area is on the edge of the basin so wouldn’t expect offers that people might receive near Williston, for example.
Hey Norse, to my knowledge, there’s only one broker/potential operator in Sheridan. The low offer is all anyone is getting to my knowledge. Thing is, with no competition the price is, what the price is, unfortunately. You could wait 3-6 months, see if anything changes. North Dakota is different, guessing an operator has development in place plus the records are online so it will always be competitive in ND. Good luck out there.
Only one agent has filed lease in that township and range over the last 24 months. Royalties range from 12.5% to 15%. Bonus amounts are not public.