Anyone know of any co's looking to lease Mineral Rights in Burke County, ND?
I own mineral rights in Burke County, ND that we are now looking to lease. They are located in 163N, 90W Please let me know if there is any interest as we are going to review lease offers and hopeful this area will be productive like our other leases.
Scott:
Looking at the GIS map, appears that the 163N;90W area has seen lots of activity with only few areas which appear open. What section is your minerals located in? You will need to locate the nearest wells to your mineral area and learn their production numbers. This will be a major factor in your negotiations.
Scott, the good and bad news is that there is almost assuredly oil under those acres (judging by sections 5,8), but there are alot of areas just as good. I don't think you will be able to lure an operator unless you have alot of acres. I think it has become a waiting game again. The frenzy of nailing down the best acres, when everyone wasn't exactly sure of where those were, appears to be over. There is alot more infil drilling than previously. If your acres were mine I'd console myself that if they don't lease them today, that someone will in the future, which is the normal condition. The lease on sight of a few years ago will be missed, but now that the operators know approximately what they will get wherever they drill, those days are over for ND.
We are in section 6 160 acres
Scott:
Sequel Energy LLC has some newer wells near your area in section 6. I have no access to the production figures on these wells but as rw stated above, someone will eventually your mineral acreage as there is oil in the area. Just sit back and take your time as your leasing opportunity will occur in the future. I would advise to make your lease as short term as possible in order to expedite the possibility of drilling.