We own mineral rights on 102 acres in Mckenzie County ND. The last documents we received showed 102 gross arces and only .17 net acres. Could someone explain this to me, and how do i verify net acres owned?
.17 acres is what you would appear to own within the 102 acre tract
The 102 acres are undivided interest which means that you don’t own any particular acre or part of one in your case. It appears that probably over time as title of the property moved the actual mineral acres owned had been reduced. It there are several members in your family then the net acre number could have been reduced. The landman should be able to tell you how the net acres were calculated.
I have mineral rights in McKenzie county and had been thinking about selling. Is your company still buying?
DAP56 said:
Have you been offered on your minerals? What township and range are you in? My company is acquiring minerals there in McKenzie as well. We are even purchasing minerals out right. I'd love to make you an offer. Please let me know.
That would be great. I’m not exactly sure how to contact you though. I’m new to the forum.
Mat Ekblad said:
Lefric
Feel free to contact me if you would like to speak with someone on your matters. I work with a company that does minerals. Areas in McKenzie can swing as much as $1000 difference depending on its location. Also it depends if is under water as well, the state put a cloud on much of that acreage in the past 6 months.
Mat
Lefric Enwall said:I have mineral rights in McKenzie county and had been thinking about selling. Is your company still buying?
DAP56 said:Have you been offered on your minerals? What township and range are you in? My company is acquiring minerals there in McKenzie as well. We are even purchasing minerals out right. I'd love to make you an offer. Please let me know.
Lefric--
I would advise you not to sell your mineral interests in McKenzie county. You should definitely lease them, however, just because if a well is drilled on your lands, the royalty checks coming to you would probably double the price you recieved for selling them. However, if you said you own the .17 over the gross acreage of 102, you would technically own 0.001666 of every 1 acre----not a substantial amount, which means your royalty checks would be diluted heavily, still though...I wouldn't recommend selling. Whenever someone owns mineral rights in the Bakken, no matter how small, it is always a good idea to research everything before selling them away.
Lefric:
I agree with Mr. Bender in that selling your minerals is not a good idea, no matter how small the amount of net minerals you own. This is a highly "proven' area and even though, your royalty checks might be small, it could also mean a small source of income over the next 10 to 15 years. Just do your homework and make sure you are making a wise decision.
Hi all
I'm from Sydney Australia and I am just after some information on a company called Samson oil and Gas ( Aussie Company )
They have been in Williams County N D for some years now ( JV with Zavanna) but they are now looking to expand into McKenzie County.They are looking to expand their Bakken play through holdings in acres / leases .They also have Holland and Hart acting as legal advisors to Samson Oil and Gas in their expansion programme.
Has anyone come across any news involving Samson Oil and Gas or Holland and Hart in any such transactions
I very much appreciate you all taking the time reading my enquiry.
Thanks very much.
Paul.
Hi John,
There's not more than 20 acres so I don't think it would be worth it really. Do you? Also, I was informed that there is a well there already.
John Bender said:
Lefric--
I would advise you not to sell your mineral interests in McKenzie county. You should definitely lease them, however, just because if a well is drilled on your lands, the royalty checks coming to you would probably double the price you recieved for selling them. However, if you said you own the .17 over the gross acreage of 102, you would technically own 0.001666 of every 1 acre----not a substantial amount, which means your royalty checks would be diluted heavily, still though...I wouldn't recommend selling. Whenever someone owns mineral rights in the Bakken, no matter how small, it is always a good idea to research everything before selling them away.