Leasing Activity in McKenzie County, ND

Oil and Gas Leasing Help
1

My mother-in-law owns 20 net mineral acres near Grassy Butte, ND. She signed a lease with Continental in 2005 for four years and then left the country without forwarding her mail. The lease has since expired and she called Diamond Resources last month to see if they wanted to lease the land. They offered her a lease but then told her that they were not interested prior to her signing the lease. Does anybody know of anyone else who is leasing in this area? We would love to hear your suggestions.

Thanks

2

Jon:

I am not familiar with the exact area near Grassy Butte thus have no idea about the current lease status of that area. I can inform you that the information obtained from other posts on this forum has not provided a good review for Diamond Resources and their lease negotitions. I would continue to shop around for a reputable company to negotiate a lease.

3

Jon,

If you list the Township/Range of this land, I can let you know which companies are currently leasing in that area

4

146-99 is the township and range

5

Hi Jon,

I found 4 companies that have recorded leases this 2011 year, in that township/range.

Arkoma Bakken LLC out of Rockwell TX

Dale Exploration LP out of Dallas TX

Triangle USA Petroleum Corp out of Denver CO

and Continental Resources Inc. out of Enid OK (usually leased thru DIamond Resources you've contacted already)

The Leases don't post phone numbers, but you can hit the yellow pages online to find them.


Good Luck to you, I recommend you check with the top 3 names posted to see what you're offered.


Jon Adams said:

146-99 is the township and range
6

Thank you so much for your reply. I will begin by calling them in the morning to see what they have to offer. Any idea what things are going for in that area?

7

Jon:

In regards to the operators listed, I have had dealings with Continental Res. in the past and they are very good to work with in regard to lease negotiations.

8

Hi Jon,

Sorry, I don't know what bonus rates are going for in that area. That doesn't show on the recordings at the courthouses. On a few of the leases I opened on NDRIN, I was noticing mostly 3/16 or 20% for royalty.

There appears to be quite a bit of oil activity within that township/range, in the past. It seems odd to me that your mom's lease would have expired that long ago, without another company seeking to lease again.

Is there a chance that there is a permit already issued on her mineral acres?

Best of luck with your calls today.