Mineral rights purchase offer

North Dakota Mineral Rights Divide County, ND
1

I am helping my mother out regarding mineral rights for a 70 acres in 162N 97W 5th P.M. She received a lease offer in September but apparently did not accept it and now they say they have controlling interest for that section and have not offered any other lease. She received an offer to buy at $1215 an acre and I spoke with the broker who estimated that one drill on this track would produce a total 105K over the 30 year life of the drill. This all seemed low to me but I also have very limited knowledge regarding oil production in this area as well as value of these mineral rights.

I was glad to see this forum and would appreciate any insights regarding production, value, and appraisals?

2

I am guessing that this is for sections 4,9,16,21. Formentera has been leasing in this area and has new permits (41927, 41931) just north. One nearby well (29009) produced 87582 bbls to date. As usual, most in the first year. I would suggest you become familiar with the GIS map. https://www.dmr.nd.gov/oilgas/ Entering a well number (ie 29009 )in the upper left makes it faster. You might also consider subscribing the “Basic Services” , also at the above site.