recently got offer in bottineau cnty nd- 161n/81w- anybody know the going rate in that area per acre & royalty %
Larry:
The May State Auction site shows a range of $10 - $180 bonus/acre in the area of T159 and T160. The royalty % in ND is 18 - 20% in areas. I am not familiar with Bottineau County but this might give you some idea.
The land men who make an offer have been given a maximum price they can offer by the oil co. I believe. It also depends on how close you are to wells or potential drilling . Try to find these things out and don’t take the first offer. I have some mineral rights in that area and haven’t received an offer! Things must be heating up.