I want to know is anyone out there leasing their mineral rights in Williams County, North Dakota? What are you getting per acre for a 3 year lease? What are you getting for royalities should they find oil?
Who is the lease from? I have no idea if the offer I got is a good offer??
Do you think this a good time to lease or will it get better? Should I wait?
Mr. Bye, If you wish to contact me at sahlal@lycos.com, I can inform you about leasing in Williams County. I am a landman and I normally can match or beat any other offer out there. However, if I can’t I will give you my honest opinion. Most landmen are really treating people right, but there are a small minority who are not. I don’t have all the answers, but I will share what I know. Concerned Landman
Thank you I E mailed you my personal E mail and phone number so you can contact me . Also I’m interested in seeing what people out there are leasing their stuff in Williams County so I can see if my offers are in the ball game. Please reply if you have leased or have any offers pending so we can compare. I’m from Washington State and somewhat out of touch with North Dakota. H.N. Bye
live out in albuquerque new mexico want to know what going rate per acre and royalties e-mail back texasteaparra@gmail.com
Concerned Landman said:
Mr. Bye,
If you wish to contact me at sahlal@lycos.com, I can inform you about leasing in Williams County. I am a landman and I normally can match or beat any other offer out there. However, if I can’t I will give you my honest opinion. Most landmen are really treating people right, but there are a small minority who are not. I don’t have all the answers, but I will share what I know. Concerned Landman
I own minerals in Williams Co, twp 155 102, sec(s) 23, 25 and 26. In 2009 I leased for $750/acre, 3 yrs and 3/16th’s royalty. You can check out this ND website they list recent lease results for school land auctions. The link is www.land.nd.gov/minerals/auctionhistorysale.asp You can also subscribe for a small fee to the NDIC Oil and Gas website to see what oil production of wells in your area may be. That link is: www.dmr.nd.gov/oilgas
Good luck.
We also live in Washington State and recently found out my wife had inherited mineral rights in Williams and Divide Counties in N.D. We just completed leasing them to a company and received $500 an acre for the parcel in Divide County and one of the parcels in Williams County. They gave us $650 for the other parcel in Williams county as apparently there is drilling activity quite close to this one. They also gave 3/16 royalty and a three year lease with an option to renew for $350 an acre for two more years on the two parcels without nearby activity. I don’t know if that was good or not, however another company had contacted us with an offer that was quite a bit lower. Before leasing anything, I would recommend having an attorney review the lease. It does cost some money, but he made some important changes to the lease that we wouldn’t have known anything about. We used an attorney with mineral rights expertise in Williston.
Gary Sarver said:
We also live in Washington State and recently found out my wife had inherited mineral rights in Williams and Divide Counties in N.D. We just completed leasing them to a company and received $500 an acre for the parcel in Divide County and one of the parcels in Williams County. They gave us $650 for the other parcel in Williams county as apparently there is drilling activity quite close to this one. They also gave 3/16 royalty and a three year lease with an option to renew for $350 an acre for two more years on the two parcels without nearby activity. I don't know if that was good or not, however another company had contacted us with an offer that was quite a bit lower. Before leasing anything, I would recommend having an attorney review the lease. It does cost some money, but he made some important changes to the lease that we wouldn't have known anything about. We used an attorney with mineral rights expertise in Williston.
Thank you Craig Hagen and Gary Sarver , both of you were very helpful. I asked my landman for a higher royality and he gave it to me just because I asked, next time I speak with him I will ask him for a higher option to renew in 3 years, you said you are getting $350 an acre but mine is only $200 option in 3 years. I am just trying to get the best deal out there. He offered $650 an acre in Williams County, if anyone out there can do better, please contact me, I do want to get the best deal. Some people, like you Craig Sarver are getting $750 an acre in Williams County.
Does anyone out there have an idea if this is likely to get better if I wait till spring or summer due to more drilling activity???