I have leases in 154N,range93 sec.9, & sec 15, 3 year lease, also 157 N,range92 W of the 5thPm Sec 14,15,21,22,28,&33 5 year leases. Can you help me find out how this area is doing and do I get to renegotiate my leases when they expire?
https://www.dmr.nd.gov/oilgas/
Shirley, This is the website for North Dakota oil and gas. I'm not sure if you're familiar with the website, but you can post your exact land description and sections on the GIS Map, hit the icon that says "Find a Section"
When I did this with your land description, it shows you have several wells, that are horizontal that go thru the sections you're in.
If you have not been contacted by anyone regarding this, I'd first call the companies you've leased with.
Good Luck.
Shirley:
You need to check out what's currently around you as addressed by Snues. Your minerals are located in a very active area which will most likely see additional drilling in the near future. In regards to re-negotiating the lease upon expiration, you will need to read your lease to learn if there is an extension clause. If your lease does expire on a set date, you will most likely be contacted to re-lease with the current company or possibly top lease to another prior to the expiration date if no wells have been drilled. Just remember if you re-negotiate, do your homework on what the going bonus and % royalty rates are.
Snues said:
https://www.dmr.nd.gov/oilgas/
Shirley, This is the website for North Dakota oil and gas. I'm not sure if you're familiar with the website, but you can post your exact land description and sections on the GIS Map, hit the icon that says "Find a Section"
When I did this with your land description, it shows you have several wells, that are horizontal that go thru the sections you're in.
If you have not been contacted by anyone regarding this, I'd first call the companies you've leased with.
Good Luck.
Thanks for the info.
charles s mallory said:
Shirley:
You need to check out what's currently around you as addressed by Snues. Your minerals are located in a very active area which will most likely see additional drilling in the near future. In regards to re-negotiating the lease upon expiration, you will need to read your lease to learn if there is an extension clause. If your lease does expire on a set date, you will most likely be contacted to re-lease with the current company or possibly top lease to another prior to the expiration date if no wells have been drilled. Just remember if you re-negotiate, do your homework on what the going bonus and % royalty rates are.
I did get on the web site Snues told me about, it was very helpful. Can you explain top leasing to me please. Thanks. Shirley
Shirley:
In a nutshell, top leasing refers to the action by a company (other than the one you are currently leased to) whereas they negotiate a lease with you which is effective after your current lease expires. This usually occurs within 6 mos. of the expiration of your lease. Keep in mind, if a well is drilled before the expiration date of the lease, the top lease is "null and void". I have top leased on several occassions and it was always for alot more bonus money/acre and alot higher % royalty. Also, read your lease to make sure there is no type of extension clause in regards to your current lessee.
Shirley Otten said:
charles s mallory said:Shirley:
You need to check out what's currently around you as addressed by Snues. Your minerals are located in a very active area which will most likely see additional drilling in the near future. In regards to re-negotiating the lease upon expiration, you will need to read your lease to learn if there is an extension clause. If your lease does expire on a set date, you will most likely be contacted to re-lease with the current company or possibly top lease to another prior to the expiration date if no wells have been drilled. Just remember if you re-negotiate, do your homework on what the going bonus and % royalty rates are.
I did get on the web site Snues told me about, it was very helpful. Can you explain top leasing to me please. Thanks. Shirley