I am just wondering if anyone knows what the going rate for mineral right leases in the McKenzie County area is now. Our lease is coming up and we know the prices have changed from 3years ago. We have 1 yr left but they will start negotiating our lease soon. We are T152N-R103W Sec 24. The have already gotten permission to pool our section with the section above us (13). We own 80 net acres and are wondering:
1. Latest Lease rates in the area
2. What is the process after permission to pool the 2 sections
3. And activity in the area if anyone knows
We are living in Las Vegas and my mother has owned these rights for over 30 yrs now and I am now trying to learn the ropes so I can take over the all the negotiations this time around.
Thanks in Advance for your suggestions, knowledge, and help