Use this post to share and discuss your lease offers in Richland County, MT. The more we know about what is being offered the better decisions we’ll all make. Share your bonus, royalty rate, and any other provisions you were able to negotiate.
Received a call from Transcontinent out of Denver for a lease in Richland. He said he was working for Slauson (?) Exploration. Offer is $400/acre, 3/16th royalty, 3 year term. Located in either T22N, R56E OR 22N, 55E. Any input would be appreciated.
i have .5996 acres of mineral rights in richland mt near sidney mt my site is township 21 North Range 59E M P M 26 SW 1/4 I have been offered 350.00 per acre with 18% royalty i live in oregon and would hopefully not be cheated from the mineral rights my father left me as a small child any thoughts or input would be much appreciated thank you Theresa R Hennen
Can anyone give an updated as to any drilling or leasing offers out there other than the previous comments listed? Our family group owns mineral rights in Richland and Daniels, so we have an interest in the going's on there.
Thanks
We just received a verbal offer on 26n-57e sections 33 and 34 for $500 an acre and 18.75% royalty with a three year lease. Waiting for the actual details in the lease. I have a small portion of the net mineral acres. Any helpful comments I should be looking for? Thanks for this forum!
Super, that is way better than what we were offered in Daniels County, who is leasing the land in Richland Co.?
Its through Oasis. On another piece of ground we actually leased thru URSA but Whiting actually drilled. I don't understand how you sign with one company and another does the actual permitting and drilling. It sure makes it difficult to follow along and watch what is happening in the area.
Thanks for responding...how are you doing with your interests?
Tim A. Schneider said:
Super, that is way better than what we were offered in Daniels County, who is leasing the land in Richland Co.?
I think that they basically sell the lease to the other company for more than they pay you and they also get a cut of the royalties, thats my assumption of what a land man does. We havn't signed any agreements yet and right now we have 2 companies wanting the lease, we have mineral rights in Daniels and Roosevelt, at first I thoughts it was Richland co, but not so. No cash yet.
Well, we got the paper version of the lease. Lots of things in it need to be negotiated, I believe. Being such a small mineral owner, I don't really think I have much clout. Know what I mean?
I hold mineral rights in Richland Co. and currently I am receiving royalties for gas and oil on 3 wells. I also belong to the Northeast Montana Land and Mineral Owners Association as I live out of state. They meet quarterly and send out their meeting reports that help me keep in touch with what's going on in the various areas. You might want to do the same thing. It costs $30 per year (which is tax deductible against any income you have off the minerals you own) and you can see what the prevailing rates for leases are. I just received the most recent report which covered the May 22, 2012 meeting. The prevailing leasing prices as reported by members for West Richland County were $400 per acre, 4 year lease & 19% royalty; $175 per acre, 5 year lease & 20% royalty in the Richey area; and $450 per acre with a $600 option in the Scobey area. They also sent some helpful hints about lease considerations, the last which says "Unless you are very comfortable and experienced negotiating your own lease, our advice is to get help from an experience friend, relative, neighbor or lease expert." I wish I had done so!
If you are interested in joining, contact Jenny Engelke, Secretary, 4545 Road 1011, Froid, MT 59226 (406) 963-2246 Any of the Board members are helpful in answering any questions you might have or can suggest someone with the expertise to help you negotiate a fair lease.