I have mineral rights for 160 acres in Renville County,ND. They wre leased in 1978 for 5 years and I would like to re- lease them. Any help in how to do this would be welcome.
Ms. Mrotek, I suggest you check out the Renville county group. It seems that interest in Renville county is very low. From what I have been following, the wells to date either aren't profitable or wouldn't recover costs and begin making a profit until the well was about dry. I believe there is still several years worth of undrilled acreage that would return a profit in 4 or 5 years elsewhere in the state and this will probably have to be held by production before interest rises in exploring Renville county. Worse yet is that Montana is probably about to boom. I hate to say it but it could take a generation, better production technology and the price of oil doubling or trippling to create a rush to lease in fringe areas again. This is just my opinion, I really take no joy in saying it either, but I think it's accurate. I wish I had something better to say. If someone offers to lease you, I would seriously consider it whatever the offer was and make sure you get cash and not a draft before you hand over the executed lease, because it could cost you more to make them pay you than the amount of the bonus and your lessee would know this. You don't need someone clouding your title on top of not paying you.
Here's a chart of the County's production data and well counts. Very much supports the previous comment
Thankyou John these were my Mom's mineral rights and I thought I would check if it would be worth persuing. I hear that they are now using frac sand, which is coming from WI near where we live.