I received a pretty impressive offer to purchase some mineral rights in Mountrail County, township 158N, Range 92W. Does anyone know of anything new going on in the area. AKA, what does the buyer know that I don’t know? Thank you!
i am just next door to you, in 93W.
the sanish parshall is about 90% drilled out and i have seen similar posts about several areas around the US, according to some people who post. they might be saying that only about the middle bakken and there could be future activity in three forks, birdbear or lower.
have seen renewed interest in tier 2 and tier 3 areas. it is more expensive to drill here and the initial volumes are lower than the sweet spots. this means that your buyers may think the price of oil is increasing. it’s near breakeven price for our area.
i think the price of oil will be going up soon.
i daily look at the daily activity report and active rigs list on the department of mineral resources. i look at the docket every month. i try to get a sense of the initial production volume, the decline curve. i learned about the different soil layers. i look at the depth of nearby wells.
the buyer wants to make $. they are not taking much of a risk. unsolicited offers often give you about 50% of the market price that they would expect to receive in income or in reselling. maybe, contact the oasis landperson and ask them about the area.
i haven’t seen big oil volumes that justify increased interest, but increasing oil price would change that. i notice the deductions charged to mineral rights owners have been increasing a great deal, so tax policy and lenient court decisions have increased oil producer (and partners) profitability.