looken for information on leases in the Bakken Shale area, what are the average leases going for?
and the percents on the royalty?
It depends on where you are talking about. The Bakken consists of Montana, ND, and Canada. They can go anywhere from $50/acre to $2,500/acre and 15% to 20%. You will have to be a bit more specific to the area to get a average.
It is in the state of ND.
Are you a land man?
Yes I am. In North Dakota, well if you are in Renville County it can be $50/acre if you are in Williams it can be $1,500/acre. It is still a pretty big state, with alot of different price and royalty ranges.
May I ask what company you are with?
Titan Resources
Do you have any insite on the Dunn County area?
Mat Ekblad said:
Titan Resources
Mat:
Do you know any current news in regards to the Williams County area? I noticed that G-3 is becoming fairly active in the area and they have our mineral acreage spaced in 157N; 103W.
Kim
Depends if you are in the north and west you will see double then being on the south and east end of the county.
kim said:
Do you have any insite on the Dunn County area?
Mat Ekblad said:Titan Resources
They have the rig jumping from hole to hole about every 25 days right now. You may see a bit of a slow down in the next 2-3 months becuase of frost laws. I would assume that if they have you spaced that you see a pad put down this summer.
charles s mallory said:
Mat:
Do you know any current news in regards to the Williams County area? I noticed that G-3 is becoming fairly active in the area and they have our mineral acreage spaced in 157N; 103W.
Hey Mat,
Thanks for the information.
Mat Ekblad said:
KimDepends if you are in the north and west you will see double then being on the south and east end of the county.
kim said:Do you have any insite on the Dunn County area?
Mat Ekblad said:Titan Resources
Mat:
Thanks for the info. We are hoping the drilling activity picks up in Roosevelt Co. (Mont.) as this where our largest mineral acreage is located.
Mat Ekblad said:
They have the rig jumping from hole to hole about every 25 days right now. You may see a bit of a slow down in the next 2-3 months becuase of frost laws. I would assume that if they have you spaced that you see a pad put down this summer.
charles s mallory said:Mat:
Do you know any current news in regards to the Williams County area? I noticed that G-3 is becoming fairly active in the area and they have our mineral acreage spaced in 157N; 103W.
The three wells that Brigham is planning in our lease area in Roosevelt County in June, July and September all have leases that will expire this fall. I suspect they are drilling according to a lease schedule, so that may be the best way to predict when one will be drilled. Our area is 28 N, 57 E.
Ruth:
That sounds like good news about Roosevelt County. Our minerals are primarily in T30N;R59E;Sections 6 & 7. EOG has the area spaced and I keep a close watch on the activity in this area as we have about 275 net mineral acres. Even a fair producing well would be good news.
Ruth said:
The three wells that Brigham is planning in our lease area in Roosevelt County in June, July and September all have leases that will expire this fall. I suspect they are drilling according to a lease schedule, so that may be the best way to predict when one will be drilled. Our area is 28 N, 57 E.
It depends on the company the landman is finding leases for. We recently leased 20 acres @ $650.00 an acre. But, your ability to negotiate also comes into play. They always offer a low price hoping you will take it. Our leases are in Stark county, 139-95 and 138-97. You can also contact several landmen for comparison. But, until you're ready to sign, you won't get your best offers. Hope this helps. : )
Wes
Thanks that does help.
This lease that I am working on is in Billings county, I was just trying to get an idea of what is out there so I know how to negotiate.
On are other mineral and gas they drilled and are pumping, and I am sure they will drill on this lease so I am just trying to get an understanding of what is in the area.
Wes Luke said:
It depends on the company the landman is finding leases for. We recently leased 20 acres @ $650.00 an acre. But, your ability to negotiate also comes into play. They always offer a low price hoping you will take it. Our leases are in Stark county, 139-95 and 138-97. You can also contact several landmen for comparison. But, until you're ready to sign, you won't get your best offers. Hope this helps. : )
Wes
Mat, Do you know of any oil companies that are looking for minerals in McLean County? We have over 800 acres that are not leased to date.
Thanks
Dale Walsh