Can anyone tell me if there is any current or near future of new wells being drilled in Montrail county township 151 N range 93W section 31 legal SE/4
We have been contacted by Vintage Gas & Oil in Fort Worth Texas and need to know if anyone has had dealings with this company and if they are legitimate.
Any help is greatly appreciated. We are novices when it comes to selling our mineral rights. Does anyone know a fair price?
Thank you in advance
Marathon has active permits very close to you and that is probably why you are getting offers. In general, my out of the blue offers have come from buyers who have more knowledge than I do at that moment. In general, those offers have turned out to be lower than what subsequent drilling returned to us in royalties. Not saying don’t sell, just saying get informed before making a decision. You also do not have to sell everything-just part if you want to split the risk. You have currently producing wells that have some life left in them. It might be worth getting an appraisal so that you know how long they will last and projected revenue.
Vintage is a real company. They will pay you what they say they will pay you.
Bad news, I honestly don’t think there is much more drilling to be done for you. Three Forks and Middle Bakken are drilled up across your unit (see map below). Possibly leaseline wells along the west side of your 30/31 unit (permitted in the past but expired). MRO has pretty much drilled up every unit they have on that peninsula south of New Town. If somebody at MRO is telling you that they will drill materially more wells on your acreage (or any acreage nearby) they probably are not the people at MRO who actually know those things.
HOWEVER, GOOD NEWS there are 5 new wells in your unit that were just completed. Ahem Cough Cough Cough. Herman, Hartson, Etherington, Copeland, Ortman wells. Fairly important fact. Which first of all, means that the wells that you were getting paid on have made very little oil the last 3-4 months as they were largely shut in for fracking offsets. Which explains why your current check is so small or nonexistent. Second of all, that means that the volumes in that unit are going to go up considerably.
The North Dakota website lists the new wells as NC (not completed) but the frac info is available in DrillingInfo. So those should be coming online pretty soon.
What does that mean? It means I would ask for $8.5k per NRA to sell my minerals. See below. IMO that’s probably a fair price once you throw in risk etc. I mean at this point those wells have done nothing. Or you can hold on to them and probably make twice that much over a far longer timeframe. Maybe. Take all this with whatever grain of salt is appropriate for advice you are getting from random stranger on the internet about your personal finances. I don’t even have a profile picture!
Yup, usually a very good reason why you get offers! I forgot to check the frac list.
Thank you for the replay I appreciate it very much.
thank you so much fot the information.
Considering hiring an attorney to help you if quite a big of acreage or teaming up with neighbors to call costs for an attorney.
You are not the only one they have contacted. M_Barnes has the correct answer. Unless you have extenuating circumstances do not sell.
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