Offer to Purchase my Mineral Acres

Hi All. Curious about an offer I received to purchase 8.2 net mineral acres in Richland County Montana. These were inherited years ago. Very small royalties over the years. Section 6-23N, Range 60E, MPM. As far as I can recall there is no current lease on these acres. Previous lease expired in December 2017. Was offered about 10,000. They would combine the purchase with some acres we have in McKenzie County North Dakota at a total of 25887 for both

Anyone able to comment on the activity for oil production in these specific areas of Richland County? Very curious about what is happening currently to help in my decision to keep or sell.

Richland 6-23N-60 has current leasing activity by Purified Resources. Sections just two miles to the north of there have four horizontal wells per section, so you might was to wait and see if you get leased instead. Offers to buy usually come before the bit, so someone may be planning something. In my experience, offers to buy have been lower than what I eventually made in royalties.

What are your McKenzie sec-tnp-range? There may be leasing there as well if it is right across the border.

Thanks for your response, Martha. The McKenzie locations are: sections 1, 11, 13, and 14 in T145N-R100W-5thPM. Names of wells in these acres that have been mentioned are Eagle and Sheep Creek Storm. I can get the specific lot descriptions to you in the listed sections if that helps. A very small royalty ($92.32) was last paid in August 2023. I believe the lease is with North Range Resources. The other McKenzie location is 34N1/2-147N-99W 5thPM. 5 yr lease done Dec 2022. Thanks again for helping me through this. Bob

Ah, one was hiding under the symbol of another one.
Sheep Creek Storm 2-1 was plugged and and abandoned. Last production was 1986. Sheep Creek Storm 1-1V was drilled in 2016. Last production was 5/1/2023. Not plugged yet. Both in section 1-145N-100W.

Eagle 2-1V says expired permit. Eagle 10-1V says expired permit. Both in section 2-145N-100W.

Last leasing around section 1 & 2 was in 2019. Last leasnig around 13 & 14 was in 2016.

Energy Lease Account was leasing in 34-147N-99W in 2023. I suspect that is where the interest lies for the McKenzie side.

Martha, from what you have been able to surmise, would you guess there is value here is a sale or lease of any of the McKenzie acres? I know that is a broad question but give it your educated opinion. Just looking for some info to help us in deciding what to do. Thanks again. Bob

If it were me, I would not sell the Montana ones since they are close to horizontal wells and is currently being leased. The McKenzie ones are rather iffy at this point. If you are not in a hurry, then do nothing.

Thank you!! You have been very helpful. Bob

I’d definitely second Ms Barnes opinion on this!