I have mineral rights in N. Dakota and I need advice on leasing my mineral rights, going non-consent, if I'm being offered a good lease ect. ect. ect. Does anyone know of a mineral rights lawyer, in North Dakota, that they would reccomend?
Donna, I have sent you a friend request. I did have a conversation with a ND lawyer where he mentioned some things about going non-consent, but that wasn't what I engaged him for and do not consider it legal advice. I and my brother have gone non-concent in more than a handfull of ND wells and I would be glad to let you know what I have learned. Alot depends on where your acres are, how productive they can be and how many acres you have. Look forward to hearing more from you.
I have 10 sibblings, we each have inherited 2.26 acres in Divide county, there is one producing well, we have been told the oil company plans to sink four additional wells.
Donna, alot depends on the lease offer you have received, which you may be able to negotiate higher. If the bonus per acre is low and the royalty is 1/6 [16.67%] then you aren't missing out on much by collecting the 16% royalty from the very first barrel of going non consent. People who leased may get more money in the beginning but if oil prices are high your part of the well cost and 50% penalty of actual cost of drilling the well, which does not include surface equipment, could catch up and surpass the amount of money received by those who leased. If your payout is likely to be more than 5 years in the future, production is low, or the lease offer is a substancial bonus and 20% or better royalty, you could well be better off leased. I would not worry about the plans for other wells at this time, you have no way of knowing if they will ever be drilled. If your well is off the cinfidential list and you need help getting the production numbers, let me know, it's good to know whether you lease or not.
donna roggenstein said:
I have 10 sibblings, we each have inherited 2.26 acres in Divide county, there is one producing well, we have been told the oil company plans to sink four additional wells.