Does anyone know what I might be able to get for min. rights per net acre in Roosevelt Co., MT.? ALso, I am looking for a fair attorney with a conscience in MT. to assist me.
Jo:
Where are you located in Roosevelt....Township/Range/Section.? I have minerals in T30N;R59E;Sections 6&7 and also in T30N;R58E;Sections 1 & 12. My minerals are under lease until late 2013/early 2014 so I leased back in 2008-2009 when bonuses were alot lower than today. There has been some very successful drilling in parts of Roosevelt and several permits are currently on the table. You need to first locate the nearest well to your mineral area as this will be a factor in your bonus amount. If no wells are within a short distance, then I would guess in the range of $800 to $1000/acre. Don't sign for more than 3 years and no extensions on the lease with a 20% royalty. You might also want to post under "Groups" above; click on Montana and then on Roosevelt. Someone may be able to help you more if they have recently leased. I have used Laura Chistoffersen, an attorney in Culbertson, MT. She did great work and her rates were reasonable. Phone number is (406) 787-5700. Again, my bonus amounts are just guessing so maybe someone else can chime in on this discussion.
I may be in your position soon. I have used Kris Birdwell in Lewistown (406-538-2623) who has spoken at our local oil boom community meetings and very astutely fine tuned a lease for me in Richland county last year. He is a man of the highest character. The comments by Mr Mallory could not be better. I have found that vertical drillers are making offers that, once a well is 'proved up' could result in reselling the contract to the horizontal drillers at the expense of mineral rights owners who sign early.
Will:
I would like to ask you some additional questions about the Eastern MT area. I sent you a friend request.
Will said:
I may be in your position soon. I have used Kris Birdwell in Lewistown (406-538-2623) who has spoken at our local oil boom community meetings and very astutely fine tuned a lease for me in Richland county last year. He is a man of the highest character. The comments by Mr Mallory could not be better. I have found that vertical drillers are making offers that, once a well is 'proved up' could result in reselling the contract to the horizontal drillers at the expense of mineral rights owners who sign early.
Hi Charles, Thank you for responding! I do not have any leases as of yet and am just trying to get good info. from other min. owners. I appreciate your info. on leasing for no more then three years with no extensions, who you use as an attny., and finding the well closest to the min. area to determine bonus ammounts. Would it be in my best interest to go to the site, to find out where the well/s are? The min. rights are Twp. 30 N, Range 56 E., sect. 2 §. 11. It sounds as if we may have mins. in the same general area.? I hope to hear from you again. Jo
charles s mallory said:
Jo:
Where are you located in Roosevelt…Township/Range/Section.? I have minerals in T30N;R59E;Sections 6&7 and also in T30N;R58E;Sections 1 & 12. My minerals are under lease until late 2013/early 2014 so I leased back in 2008-2009 when bonuses were alot lower than today. There has been some very successful drilling in parts of Roosevelt and several permits are currently on the table. You need to first locate the nearest well to your mineral area as this will be a factor in your bonus amount. If no wells are within a short distance, then I would guess in the range of $800 to $1000/acre. Don’t sign for more than 3 years and no extensions on the lease with a 20% royalty. You might also want to post under “Groups” above; click on Montana and then on Roosevelt. Someone may be able to help you more if they have recently leased. I have used Laura Chistoffersen, an attorney in Culbertson, MT. She did great work and her rates were reasonable. Phone number is (406) 787-5700. Again, my bonus amounts are just guessing so maybe someone else can chime in on this discussion.
Jo:
You don't have to physically go to the site as there are maps that will reflect the current wells in your area. I will try to look for you but it might be tomorrow before I know anything if I can find the right information. Will get to you later.
Jo said:
Hi Charles, Thank you for responding! I do not have any leases as of yet and am just trying to get good info. from other min. owners. I appreciate your info. on leasing for no more then three years with no extensions, who you use as an attny., and finding the well closest to the min. area to determine bonus ammounts. Would it be in my best interest to go to the site, to find out where the well/s are? The min. rights are Twp. 30 N, Range 56 E., sect. 2 §. 11. It sounds as if we may have mins. in the same general area.? I hope to hear from you again. Jo
charles s mallory said:Jo:
Where are you located in Roosevelt....Township/Range/Section.? I have minerals in T30N;R59E;Sections 6&7 and also in T30N;R58E;Sections 1 & 12. My minerals are under lease until late 2013/early 2014 so I leased back in 2008-2009 when bonuses were alot lower than today. There has been some very successful drilling in parts of Roosevelt and several permits are currently on the table. You need to first locate the nearest well to your mineral area as this will be a factor in your bonus amount. If no wells are within a short distance, then I would guess in the range of $800 to $1000/acre. Don't sign for more than 3 years and no extensions on the lease with a 20% royalty. You might also want to post under "Groups" above; click on Montana and then on Roosevelt. Someone may be able to help you more if they have recently leased. I have used Laura Chistoffersen, an attorney in Culbertson, MT. She did great work and her rates were reasonable. Phone number is (406) 787-5700. Again, my bonus amounts are just guessing so maybe someone else can chime in on this discussion.
Hi again Charles, Our mins.are in the same Twp., and both in the 50’s range. We will have to keep in touch. I also wanted to ask you if you are under a lease with either Osasis Oil Or Empire Oil? Osasis may be owned by Libia. Thanks again, Jo
Jo said:
Hi Charles, Thank you for responding! I do not have any leases as of yet and am just trying to get good info. from other min. owners. I appreciate your info. on leasing for no more then three years with no extensions, who you use as an attny., and finding the well closest to the min. area to determine bonus ammounts. Would it be in my best interest to go to the site, to find out where the well/s are? The min. rights are Twp. 30 N, Range 56 E., sect. 2 §. 11. It sounds as if we may have mins. in the same general area.? I hope to hear from you again. Jo
charles s mallory said:Jo:
Where are you located in Roosevelt…Township/Range/Section.? I have minerals in T30N;R59E;Sections 6&7 and also in T30N;R58E;Sections 1 & 12. My minerals are under lease until late 2013/early 2014 so I leased back in 2008-2009 when bonuses were alot lower than today. There has been some very successful drilling in parts of Roosevelt and several permits are currently on the table. You need to first locate the nearest well to your mineral area as this will be a factor in your bonus amount. If no wells are within a short distance, then I would guess in the range of $800 to $1000/acre. Don’t sign for more than 3 years and no extensions on the lease with a 20% royalty. You might also want to post under “Groups” above; click on Montana and then on Roosevelt. Someone may be able to help you more if they have recently leased. I have used Laura Chistoffersen, an attorney in Culbertson, MT. She did great work and her rates were reasonable. Phone number is (406) 787-5700. Again, my bonus amounts are just guessing so maybe someone else can chime in on this discussion.
Jo:
A company out of Midland, Texas by the name of Legacy Reserves LLC bought our mineral leases in Roosevelt back in May of this year. Before that, a company called Summit Resources out of Calgary, Canada held the leases. Legacy bought all of Summits leases in both MT and ND. I think they were really interested in some of the holdings in another MT county thus I feel that Legacy will sell our leases before they expire in late 2013 and early 2014. Further, I feel that the sale will be to an established operator in the Williston Basin since the expiration dates loom next year. I will check the map asap and get back to you in regards to wells in your area.
Jo said:
Hi again Charles,
Our mins.are in the same Twp., and both in the 50's range. We will have to keep in touch. I also wanted to ask you if you are under a lease with either Osasis Oil
Or Empire Oil? Osasis may be owned by Libia. Thanks again, Jo
Jo said:Hi Charles, Thank you for responding! I do not have any leases as of yet and am just trying to get good info. from other min. owners. I appreciate your info. on leasing for no more then three years with no extensions, who you use as an attny., and finding the well closest to the min. area to determine bonus ammounts. Would it be in my best interest to go to the site, to find out where the well/s are? The min. rights are Twp. 30 N, Range 56 E., sect. 2 §. 11. It sounds as if we may have mins. in the same general area.? I hope to hear from you again. Jo
charles s mallory said:Jo:
Where are you located in Roosevelt....Township/Range/Section.? I have minerals in T30N;R59E;Sections 6&7 and also in T30N;R58E;Sections 1 & 12. My minerals are under lease until late 2013/early 2014 so I leased back in 2008-2009 when bonuses were alot lower than today. There has been some very successful drilling in parts of Roosevelt and several permits are currently on the table. You need to first locate the nearest well to your mineral area as this will be a factor in your bonus amount. If no wells are within a short distance, then I would guess in the range of $800 to $1000/acre. Don't sign for more than 3 years and no extensions on the lease with a 20% royalty. You might also want to post under "Groups" above; click on Montana and then on Roosevelt. Someone may be able to help you more if they have recently leased. I have used Laura Chistoffersen, an attorney in Culbertson, MT. She did great work and her rates were reasonable. Phone number is (406) 787-5700. Again, my bonus amounts are just guessing so maybe someone else can chime in on this discussion.
Jo:
It appears the mapping system is not functional at the present time but I can give you the steps in order that you can look at wells near your mineral interests. When the map is funcitonal, it is easy to do this task. The steps are as follows: 1) Google "Montana Oil and Gas" 2) You should be at the Home Page .....Click on "On Line Data" at the top 3) Click on "Live Access" 4) Click on GIS at the top of the page 5) Click on your area in Roosevelt County (you may have to guess at your position), repeat the click to enlarge the map 6) Click on the icon at the top with an "i" in a black circle 7) Click on the black "Dots" on the map and it will give you the info on the well; plugged, active, name of operator, lease name, etc. 8) For active wells, the production data in the lower right hand side of page, click there . Hope this helps.
Are you speaking of Libya, as in the country in North Africa? I believe you're trying to refer to Oasis Petroleum out of Houston, TX...? http://www.oasispetroleum.com/
Jo said:
Hi again Charles,
Our mins.are in the same Twp., and both in the 50's range. We will have to keep in touch. I also wanted to ask you if you are under a lease with either Osasis Oil
Or Empire Oil? Osasis may be owned by Libia. Thanks again, Jo
Jo said:Hi Charles, Thank you for responding! I do not have any leases as of yet and am just trying to get good info. from other min. owners. I appreciate your info. on leasing for no more then three years with no extensions, who you use as an attny., and finding the well closest to the min. area to determine bonus ammounts. Would it be in my best interest to go to the site, to find out where the well/s are? The min. rights are Twp. 30 N, Range 56 E., sect. 2 §. 11. It sounds as if we may have mins. in the same general area.? I hope to hear from you again. Jo
charles s mallory said:Jo:
Where are you located in Roosevelt....Township/Range/Section.? I have minerals in T30N;R59E;Sections 6&7 and also in T30N;R58E;Sections 1 & 12. My minerals are under lease until late 2013/early 2014 so I leased back in 2008-2009 when bonuses were alot lower than today. There has been some very successful drilling in parts of Roosevelt and several permits are currently on the table. You need to first locate the nearest well to your mineral area as this will be a factor in your bonus amount. If no wells are within a short distance, then I would guess in the range of $800 to $1000/acre. Don't sign for more than 3 years and no extensions on the lease with a 20% royalty. You might also want to post under "Groups" above; click on Montana and then on Roosevelt. Someone may be able to help you more if they have recently leased. I have used Laura Chistoffersen, an attorney in Culbertson, MT. She did great work and her rates were reasonable. Phone number is (406) 787-5700. Again, my bonus amounts are just guessing so maybe someone else can chime in on this discussion.
Hi Will,
Thank you for the info on your attny… Can you tell me what " proved up" means? And also the horizontal vs. vertical drilling? I guess I assume all drillers first drill vertical, then horizontal to variing degrees during the process. Do you you know why the expense of the change is put on the backs of the min. owners? Does holding off signing, guarantee that this kind of thing won’t happen?
Jo
Will said:
I may be in your position soon. I have used Kris Birdwell in Lewistown (406-538-2623) who has spoken at our local oil boom community meetings and very astutely fine tuned a lease for me in Richland county last year. He is a man of the highest character. The comments by Mr Mallory could not be better. I have found that vertical drillers are making offers that, once a well is ‘proved up’ could result in reselling the contract to the horizontal drillers at the expense of mineral rights owners who sign early.