Greetings, I recently received a lease offer from Bull and Bear Resources out of Dickinson, ND In Mountrail County T157N, R94W . They offer to pay 1500.00 per acre But only offer 3/16 I was wondering if anyone has had dealings with this company, or any other information. Thanks Brian...
I have not heard from Bull and Bear Resources. But I have heard from a company called Dynamic Resources LLC. Based on my initial research of Dynamic Resources, it looks like they have only been around since March 2013.
They are supposed to be sending out info and a lease agreement via the mail sometime this week. My Aunt was contacted so I don't have a lot of info at this point.
However, I am hoping to eventually deal directly with a large company that would be developing and drilling versus some independent Landman that's trying get a lease on the cheap from me and farm out that lease to a large company.
I signed a lease agreement in Shelby County Texas back in 2008 with Chesapeake. I had a number of independent Landmen chasing me down as well. I found the best terms by dealing directly with Chesapeake. I'm hoping to accomplish the same in North Dakota.
Here's a good resource you might want to check out...
I went to the North Dakota Industrial Commission's website (https://www.dmr.nd.gov/oilgas/) and clicked on "Daily Activity Reports". Based on permit activity, it can give you an idea of companies that are active in Mountrail County. Most of the company's websites can be found with a simple Google search and have people listed you can contact if you are a land and/or mineral rights owner.
Thats's my plan of action at this point.
t151 r89w s27 Offer from Dynamic Resoruces: $30/acre +14% with all the clauses in the lease you are supposed to avoid. Marketing expenses, free on site gas for equipment, no pugh clause....
Wow, that just has BAD written all over it...
Are there any leasing activity in the Northeast sections in Mountrail County? Appears that no oil companies are interested in that area
Late Update..... apparently Bull and Bear have some wires crossed as I did as well since it took me some time to do due diligence. Seems my lawyer looked for better offers and discovered I have no interest in the property they specified...... Almost laughable, almost Brian...
We are about 3 sections east of you. We just received an offer of $2200/acre from one company and $2000 from another. The first one is also offering 20% royalty. We're in the Bakken Lite area which doesn't produce as much as around Parshall. I would think your area would be quite good.