What would a lease In 158 102 Williams county be worth. Thanx for the info Tom
Tom
It depends upon how many acres you have and where they are located. What a lease is "worth" is fairly complex. If you just mean what are the going rates for bonus amounts and royalty, that is a short term answer. Someone from the area would have to answer that. If you mean what is the total worth over the life of a lease, that is about a 30 year answer and is completely different.
That Township and Range has 14 (mostly Bakken) wells since 2010, mostly by G3 Operating LLC and HRC Operating LLC. You can look them up on the ND Oil and Gas website.
To give you a ballpark idea of lease offers, we leased in 157N101W for $1000 3 years at 20%.
We have a producing well in 158 102 Williams Co....What section are you in??
Rick
it is in section 20 I am working on this for someone in my family. It is leased to G3 but I think about to expire I don't know all the details. thanx for any info.
Hi Tom,
We've got minerals in sections 15 and 18 with one producing well. G3 was taken over by Halcon Resources about a year ago. They've been very straight forward to deal with. We leased 3 years ago for $750 at 18.75%. There is activity around Section 20 but not much drilling at the moment. It seems things have stalled a little right now waiting for infrastructure to catch up with production.
There was an initial land rush to lock-up acreage a few years ago, but that seems have subsided somewhat now that the really "sweet spots" have been determined. There's only so much capital available for exploration and production. The oil isn't going anywhere. I think the oil companies are just going to sit tight for awhile, bank some profits and pay down debt before they start the next phase.
Rick
Tom
G 3 HRC Operating LLC lease with used for 3 years in 2010 and never drilled and not in the area as of right know . I check on some other company's and we went with Continental Resources bigger company so hopefully they will drill I am at the top oh 158 102 and we got a better bonus to hope this helps.
Thank You