Folks, I’ve been here for a long time and have been very open in this fourm about $'s/acre, percentage and term, when our members post questions about what a good offer is. My hope by posting my information and what I am being offered, is that others have an epifinay and realize that if we as mineral owners share, we can deal with the oil companies on a more even playing field.
If we decide there is some advantage to us being private about amounts, terms, etc… we may as well not even share on this fourm, and I would ask, “What is the point of even being here & why share or ask anything”?
I challeng you to answer in this thread with the following text format:
“T-142N, R-100W = $2500.00/acre, 20%, 3years” Biillings County, North Dakota
Township, Range, $'s per acre, primary term length, County, State
even if you’ve already leased, it still helps to share.
Can you imagine if there were 1000’s of responses like this? What kind of power does that give to future mineral owners looking to lease or to yourself if you need this in the future !
Mark:
Excellent idea in regards to these informative listings. One additional thought on the format: be sure to mention any additions to the terms of the lease, such as "free transportation"; pugh clauses, etc. which sometimes will effect the bonus amounts and possibly the % royalty amounts of the lease.
Mark,
I agree with you 100% on sharing. What good is the Forum if we don't share? Isn't that what the Forum is all about? Mark, thank you for your posting.
Clint Liles
122 views and everyone is afraid or ??? To share. Not gaining anything by not sharing.
Ok, here goes...Got an offer but have not signed yet..waiting for an attorney to look at the lease. So, I'm not sure if this fits your criteria.
26n-57e sections 33 and 34 18.75% and three years-- richland county, Mt
Thanks for posting the question and hopefully the dialogue will start coming in. I also am all for the sharing of information.
Joanne
Joanne:
You didn't state your bonus/acre amount but I would negotitate for no less than 20% on the royalty. This is another great thing about sharing this type infor is that others in the area can maybe give someone in lease negotiations additional insight. My leases in MT are not due to expire until late 2013 but I will be happy to share any offers including top leases when they start to come in. Hopefully, someone with minerals in my areas will be able to give me some figures that are current to the area.
oops.....just an oversight...$500 an acre 18.75 % royalty and three years...still not signed. Finally got an attorney to look at it next week. Four attorneys later, I found one that will make time to see me.
Joanne:
Looking at the map, it appears that Oasis Petroleum has a well in T26N;R57E;Section 34. Continental Res. has a well in T25N;R 57E;Section 5. Are you recieving royalites from this Oasis well? This could possibly be an older vertical well. I think the $500/acre might be low for this area and I would negotiate for a little higher bonus but definately go 20% on the royalty. I put much more emphasis on the royalty end than the bonus amount. By all means, take your time and don't get in a hurry until your satisfied with your negotiations.
There have been several vertical wells on it. I believe it has been temp spaced-but not an actual permit . Another section I have a part of is the barter well,25n-57e-3/10. Leased that thru Ursa and Whiting drilled. Looks like they did two laterals right away on it. Info slow to come on it. I have to use Mt gas and oil site to snoop around.
296 views and only 3 people who have shared their terms. I am saddened by this.
It too bad that everyone is either too afraid or selfish to put information out here.
The best site to provide this type information would be on the "County" sites where everyone on that site is concerned about that particular area.