Anyone know what offers are being made in Divide County? I have a family member who has minerals in sec. 29, 31 and 32 of T162N-R100W. He has an offer of $700 per acre for a 3/2 with royalty of 1/6th. Any information would help.
Jeremy
Are you aware that there is a well already drilled in the 29/32 spacing? I consider already having the well drilled to be something of an advantageous position. The well is even off the confidential list, so when they frack it and make sales you can see just how good it is. I wouldn't be in too big of a hurry to sign a lease. Baytex Energy USA Ltd is the operator, the wells name is MOE 29-32-162-100H 1BP West Ambrose field. How much of this information you let the landman know that you know, is up to you.
I found out from my attorney that I own some stuff in Divide and received an offer for $1500/acre and 3/16ths recently. Found out I owned a bunch of stuff about a month ago and getting schooled in it all now.
Cara,
what township and range are those that you received the lease offer of $1500 per acre?
163N 101W, the landman said he might be able to go up a little too, but that I might need to give a little somewhere.
I have some in section 9 that are not leased is why i wondered. What company made the offer? I see SM has a lot of permits.
I found out though after reading other posts that it is a 3+2 lease, so maybe I don't want to do it just yet. I had an offer from Moncrieff Oil Properties LLC, but haven't got many offers yet as I just found out about what I owned not long ago, so will wait till I see more. What is SM?
Cara,
Moncrief was the one that offered $1500 per acre or wasn't? From what you said it wasn't as you make it sound like you got more than 2 offers but you also sounded evasive. SM is the old St Mary Operating Company.
Yes I am aware of this. And I am a landman. However there is only one comapny making an offer (Samson) and they are pushing my uncle very hard to sign a lease. His land is under lease that will expire on January 18th and the company that has the lease is not interested in leasing again. No other companies have made an offer and that makes me a bit concerned. It may be an advantageous position but there is no production near him and the mineral owners on each side of him have received no offers. I work in Colorado and I am just trying to help him with this. According to him, he can throw a rock and hit the well that is currently being drilled. However, that particular well has a horizontal that is due South and ends up in another section. The confidential wells being drilled will not be reported until at least April and they are threatening to force him.
r w kennedy said:
Are you aware that there is a well already drilled in the 29/32 spacing? I consider already having the well drilled to be something of an advantageous position. The well is even off the confidential list, so when they frack it and make sales you can see just how good it is. I wouldn't be in too big of a hurry to sign a lease. Baytex Energy USA Ltd is the operator, the wells name is MOE 29-32-162-100H 1BP West Ambrose field. How much of this information you let the landman know that you know, is up to you.
What is the description. What section, township and range?
Cara Simmons said:
I found out from my attorney that I own some stuff in Divide and received an offer for $1500/acre and 3/16ths recently. Found out I owned a bunch of stuff about a month ago and getting schooled in it all now.
My uncle has a buddy in section 9 and he has not been offered either.
Mineral Joe said:
I have some in section 9 that are not leased is why i wondered. What company made the offer? I see SM has a lot of permits.
SM is Saint Mary Exploration
Cara Simmons said:
I found out though after reading other posts that it is a 3+2 lease, so maybe I don't want to do it just yet. I had an offer from Moncrieff Oil Properties LLC, but haven't got many offers yet as I just found out about what I owned not long ago, so will wait till I see more. What is SM?
I would think that the lease would be held by continuing operations. The company that holds that lease currently may think you are held and they don't need to lease it again. Potential lessees also may think this and shy away. If you told me you weren't held by that well, I still wouldn't have any interest in it until I read your lease and saw for myself, possibly getting a legal opinion that you were not held. I also do not consider being force pooled in ND to be much of a problem.
jeremy gautreaux said:
Yes I am aware of this. And I am a landman. However there is only one comapny making an offer (Samson) and they are pushing my uncle very hard to sign a lease. His land is under lease that will expire on January 18th and the company that has the lease is not interested in leasing again. No other companies have made an offer and that makes me a bit concerned. It may be an advantageous position but there is no production near him and the mineral owners on each side of him have received no offers. I work in Colorado and I am just trying to help him with this. According to him, he can throw a rock and hit the well that is currently being drilled. However, that particular well has a horizontal that is due South and ends up in another section. The confidential wells being drilled will not be reported until at least April and they are threatening to force him.
r w kennedy said:Are you aware that there is a well already drilled in the 29/32 spacing? I consider already having the well drilled to be something of an advantageous position. The well is even off the confidential list, so when they frack it and make sales you can see just how good it is. I wouldn't be in too big of a hurry to sign a lease. Baytex Energy USA Ltd is the operator, the wells name is MOE 29-32-162-100H 1BP West Ambrose field. How much of this information you let the landman know that you know, is up to you.
SM is the old St Mary Land & Exploration to be exact. Never heard back on the $1500 per acre lease offer and multiple offers, sounds a little fishy.
Joe, probably not fishy. Cara is green as grass, with 2 weeks or so experience. I think she may not know that 10 miles away may not be considered close, pertaining to offers for a particular area.
Mineral Joe said:
SM is the old St Mary Land & Exploration to be exact. Never heard back on the $1500 per acre lease offer and multiple offers, sounds a little fishy.
Did you ever get this figured out?