Could anyone tell me the lease rates in Sheridan County, Montana, Section 34N 53E? Also, is there any current activity in the area? Thanks.
denmarkwi:
Looking at the GIS map, no current activity in Township 34 North; Range 53 East. Several plugged wells exist in the area. Little activity in Township 34 North; Range 52 East. Most of the activity is to the south of your area in Sheridan County. If you have been contacted in regards to leasing, don’t expect to get a high bonus amount but I would limit the term of the lease to 3 years and insist on 20% royalty. Currently, Sheridan County is being developed to the south of your area and no way to predict what will occur in the next couple of years. Marathon has a development called the “Diomedes Prospect” south of you in Sheridan and to date, approximately 3 wells have been completed with several drilling permits on the table. Again, with no current production in your immediate area, don’t expect a high bonus amount for your mineral acres. You might want to do some research as to any seismic shoots currently occurring in your immediate area.