Our leasing agreements have recently expired and need to attract new leasing companies. How do we do this?
Ronnie, What is your legal descripton township, range and section? It matters, because if you are too far east, you might not be receiving another lease offer anytime soon.
We have land in the northeast section of the county near Ward County. About 824 acres
r w kennedy said:
Ronnie, What is your legal descripton township, range and section? It matters, because if you are too far east, you might not be receiving another lease offer anytime soon.
Ronnie, I didn't want to pry, it's just alot easier to gather information on what is happening in an area with the legal description. You can go to the NDIC O&G Division GIS server map, input your legal description section, township, range and look for activity around you, wells, rigs and permits. If you don't see anything, it's a bad sign. I'm going to presume that you had a 4 or 5 year lease and at the time you signed, the operators were not certain of the boundary in which they could drill profitably, they have a good idea now. Many leases are expiring and not being renewed.
I have the information, but not with me it is at home. I will let you know later on this evening
Does anyone know when the drilling and leasing will start moving toward the eastern part of Mountrail County?
concerned about the Lowland Plat T-158-N R-88-W; Redmond Plat T-157-N R-89-W and Crowfoot Plat T-158-N R-89-W leasing potential. If anyone has any information, please let me know.
Ronnie, if you look at the map, you can see that you are either just off the eastern edge of producing areas or hanging out in space. The farther west you are in those townships, I think the better chance you will have for someone to speculate on your acres. I can tell just by looking at the map that you are outside what is considered to be a sure thing. I think the problem is going to be that there are so many places that are a sure thing that few will want to gamble in your area, but someone might. You might try to find an independant operator or a speculator like Empire Oil. I would expect a longer lease term and probably alot less signing bonus because nobody is beating a path to your door right now. the NDIC O&G director just said that there was 20 years worth of drilling left in areas with 99% rate of success. If you were 1 range [6 miles] farther west, you would probably have wells by now. It's location, location, location. Wish I had something better to say.
If anyone knows the contacts for leasing companies in Mountrail County, please let me know the point of contact for them. I need new leases.
Need to know what leasing companies are working in the Stanley area of Mountrail County. Have expired leases.