Wondering if anyone else has gotten any lease offers? I received one for 3 year option of 2 year add on for $500 an acre with 17 percent. Burke county 161-91-18 NW 1/4. Wondering if this is competitive offer?
Look specifically at Burke County on this site. There is some good information. Hit the counties tab above and scroll to North Dakota, Burke County.
I would not take the two year option as that gives them all the power and the market may be different at the end of the three years. Most of the recent leases already filed in that section are either at 1/6th (16.67%) or 17% (which may be rounded). Several companies are leasing.
I am just now finding out I have mineral rights in North Dakota. They were my grandfathers. I was just wondering if anyone uses a lawyer to make sure this is a fair offer?
Welcome to the forum. Is this an offer to lease or an offer to buy? Do you have a copy of the probate that gave you the rights? If you share the section, township and range, the forum can tell you about any activity nearby. Understand what you have before you make a decision.
Who did you receive this offer? I am also looking to lease in Burke County.
De asset holdings out of Bismarck
Hi,
Yes, we used a local ND lawyer with all our leases in Burke County, ND. We used one out of Powers Lake, ND, Amber Feisal.
I would personally go for a higher Royalty percentage. I have minerals in 161N, 93W, Section 19. We were able to get 18.75% and just a 4 yr, no option lease about 3 years ago.
I wouldn’t do any optional years. Nope. $500 is probably around the offers now, for Burke County. We were around that 3 years ago though.
Depends on the company offering it to you. Please do your homework on them to make sure they are reputable company.
Beth
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