New To Site

Well the inevitable has happened. The task of negotiating a renewal of a lease from my Grandfathers ranch in the Hodges area has passed to my generation. We have a 5 year lease with St Marys Land Exploration, $35 per acre and 15% royalty, signed in 2008 that will expire this year.

A couple general questions

Is it a good idea to notify St Mary's that we will be taking other offers?

Is there a clearinghouse for listing properties or do the landmen just find you through title search?

Is 5 years a standard lease? The situation/technology has changed rapidly and will most likely continue to do so. Would a shorter lease period be a good idea?

I, my siblings and many cousins, are feeling a bit overwhelmed by all this. A real Joe's VS Pro's situation. Any feedback/information will be greatly appreciated

Tom Schultz


Everybody who has posted here that has a lease in Dawson County are tight lipped about their deal. I guess all of us from Dawson County do not want others to know our business. You could look up the most recent state lease sale to get an idea what the going price is. I don't have a link, but you should be able to Google it. You may want to shop it around too. You can go to the state oil and gas website and find what companies are in the area.

I know in ND, 18% to 20% royalty is the going rate, but the wells in Dawson are not the big producers like in ND.


Thanks Joe

I have been doing some search for info and have gotten a better idea of the situation. I will continue to monitor this site.

Thanks again