we have 4 acres in Dunn county ND and have been approached to renew a lease on these rights…how can we find out if it is a fair price and time frame?
It depends on where in Dunn County your mineral rights are? What was offered to renew the lease?
Township 141 north if that helps Range 95 west my father in law purchased these years ago and we have never visited this area. They have offered $200.00 per acre plus 18%. 4 year term…thanks for any help you can give. There are 4 other siblings with the same deal 4 acres each
I just renewed mine in Dunn County @ $350 per acre, 2 years and 18%. But, I was tired of renewing and not have a permit issued to drill nor an attempt to drill so I’m hoping that the 2 years will get them to do something rather than just hold on to it. I know there is oil on my acres because in 1991 a different company hit oil but capped it off because they didn’t know how to extract it thru the shale yet. Now with the technology completely different they shouldn’t be just sitting on it…even though they have for the last 5 years. It’s one thing to renew but another to wait for them to do something with it.
I made a mistake, they are offering 500.00 per acre and have a well right next to our land thanks Mike
how is the well next to yours? If it is a good well, your acreage is worth more. Also, I don’t know who is leasing company is, but I would try to find out which oil company they work for and who the operator will be. This can make a difference because some operators have much better track records than others.
Mike,
I have some minerals in that same neighborhood.
Anschutz has been the primary company drilling that area. So I'd guess you were approached by Empire Oil to lease on their behalf. Do you care to share what their final offers were? Thanks.
500.00/acre 18%
Eastern MT said:
Mike,
I have some minerals in that same neighborhood.
Anschutz has been the primary company drilling that area. So I'd guess you were approached by Empire Oil to lease on their behalf. Do you care to share what their final offers were? Thanks.
anyone familiar with Stark and Mercer co. we also have mineral rights there
Mike,
Thank you, mine should be open in a few more months. I appreciate your info on this current offer.
Sorry but I don't follow things in either Stark or Mercer counties.
Mike McKenzie said:
500.00/acre 18%
Eastern MT said:Mike,
I have some minerals in that same neighborhood.
Anschutz has been the primary company drilling that area. So I'd guess you were approached by Empire Oil to lease on their behalf. Do you care to share what their final offers were? Thanks.
FYI…i called and talked to Empire and found them easy to get along with…he took time to answer all my questions
Hello Mike,
I am a landman living in the Dunn County, ND area and would be glad to talk to you. I
Sincerely - Jerry