# Permit chasers
**URL:** https://www.mineralrightsforum.com/t/permit-chasers/34821
**Category:** McKenzie County, ND
**Created:** [October 8, 2018, 8:22pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821 "2018-10-08T20:22:37Z")
**Posts on this page:** 15
**Page:** 1
### Author:  [@Ronald\_Ray\_Foreman](https://www.mineralrightsforum.com/u/Ronald_Ray_Foreman)
#### Post date: [October 8, 2018, 8:22pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/1 "2018-10-08T20:22:37Z")
Please be advised if you have received an offer for your mineral rights that is a much higher value than you normally have received it could be from permit chasers. Permit chasers are companies that have found out permits to drill on your land have been given out by the state of North Dakota for wells. The companies will pay somewhere around 8 to 9 thousand per acre, but this negates any income for you if these permits produce oil. If you’ve received such an offer I suggest you get a hold of your landman to investigate.
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### Author:  [@Ed\_Arildson](https://www.mineralrightsforum.com/u/Ed_Arildson)
#### Post date: [August 9, 2019, 6:56pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/2 "2019-08-09T18:56:39Z")
My cousins and I have been approached by two different companies with offers to buy our rights. I agree that the cause is probably because permits have been issued on the land in question. I also would suggest that you don’t jump at what seems a reasonable offer.
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### Author:  [@Lon\_Summers](https://www.mineralrightsforum.com/u/Lon_Summers)
#### Post date: [August 9, 2019, 11:08pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/3 "2019-08-09T23:08:16Z")
Hi Ed,
The offer I received was well under 9,000 an acre. It was well under 5,000 an acre. Needless to say, I only have a small mineral acreage.
I hope you did well with your participation.
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### Author:  [@M\_Barnes](https://www.mineralrightsforum.com/u/M_Barnes)
#### Post date: [August 10, 2019, 1:15pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/4 "2019-08-10T13:15:21Z")
Any time you have an offer to buy, someone knows something and they are pretty sure they are going to make a profit off of you. If you have more than one offer, even more so. You are smart to slow down and try to figure out what is going on.
For the good of the forum and for you getting good answers, it is more helpful if you post the full section, township and range. Then folks who have knowledge in the area can answer you more fully.
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### Author:  [@Ed\_Arildson](https://www.mineralrightsforum.com/u/Ed_Arildson)
#### Post date: [August 10, 2019, 5:49pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/5 "2019-08-10T17:49:10Z")
Hi, Lon. Our buyout offer was for a bit under $6,000 per acre. I did okay with participation, but would have been way ahead putting the money into an S&P 500 fund. But, what’s the fun in that?
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### Author:  [@Ed\_Arildson](https://www.mineralrightsforum.com/u/Ed_Arildson)
#### Post date: [August 12, 2019, 3:03pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/6 "2019-08-12T15:03:30Z")
Hi, again, Lon. The “analysis” my cousin was promised came in, with an offer. Unsophisticated, misleading analysis, the net of which was a suggestion she accept their offer because it was obviously to her financial advantage to do so. The offer was a bit less than 1/3 of an offer I received last week for my share of the same mineral rights. M\_Barnes hit the nail on the head, I believe: if a bunch of people want what you have, it’s obviously worth your keeping (nice paraphrase!). If I accepted an offer, I’d have to change my business card from Oil Baron to Retired. Doesn’t have the same ring.
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### Author:  [@M\_Barnes](https://www.mineralrightsforum.com/u/M_Barnes)
#### Post date: [August 12, 2019, 3:35pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/7 "2019-08-12T15:35:11Z")
I would be wary of any “analysis” that came for free and was unsolicited, especially if it came with an offer. You would have to ask tons of questions about the analysis such as what oil and gas price were used, what assumptions were made, ask to see the decline curves of the wells they ran, what discount factor was used, what economic limit was assigned to the end life, did they run a hyperbolic or exponential analysis, how many wells did they run, etc. etc. A generic run for the area is not acceptable for a mineral owner to make a good decision.
As you can see, the offer came in low.
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### Author:  [@Lon\_Summers](https://www.mineralrightsforum.com/u/Lon_Summers)
#### Post date: [August 14, 2019, 1:59am UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/8 "2019-08-14T01:59:46Z")
Hi Ed, I hope this is the start of major drilling in the pronghorn fields. Maybe you’ll participate again. I see that they changed one of the three permits to drill status today. 3 more wells helps with the oil baron image. Lon
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### Author:  [@Ed\_Arildson](https://www.mineralrightsforum.com/u/Ed_Arildson)
#### Post date: [August 14, 2019, 3:11am UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/9 "2019-08-14T03:11:33Z")
Lon, it’s been literally years since I’ve delved into the NDak Oil & Gas site. I no longer have a privileged subscription for looking at ‘secret’ detail. Where does your data come from, and are the possible wells I see in the SE corner of our drilling area where the three are?
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### Author:  [@Lon\_Summers](https://www.mineralrightsforum.com/u/Lon_Summers)
#### Post date: [August 14, 2019, 4:46am UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/10 "2019-08-14T04:46:58Z")
Hi Ed, I found the info on the ND Oil and Gas site. I don’t have a subscription to get production data, but if I type pronghorn field or nine points energy it takes me to the site that shows that three permits were issued for 150-101-7-6-1H—6H, 7H, and 8H. The 6H has been changed to drill status. I’m pretty rusty about getting around on that site ND Oil and Gas site. I’m mostly interested in the NW corner of the pronghorn field. I have very small interests in Section 7-6, 17-20, and 19. Yes, the three sites are located near the southeast of Section 7. Hope this helps. Lon
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### Author:  [@Lon\_Summers](https://www.mineralrightsforum.com/u/Lon_Summers)
#### Post date: [August 14, 2019, 5:05am UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/11 "2019-08-14T05:05:36Z")
> **[Home](https://www.dmr.nd.gov/dmr/)**
>
> Home | Department of Mineral Resources, North Dakota
That is the site I was using. They also have the map that you can access by pressing on the map on the right-hand side. I’m playing around with it to see what I can see. I have heard that drilling costs are significantly lower than 4 or 5 years ago and that the wells are better and more productive. Maybe these wells will help the old well to produce more. Lon
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### Author:  [@Richard\_Winblad](https://www.mineralrightsforum.com/u/Richard_Winblad)
#### Post date: [August 14, 2019, 3:01pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/12 "2019-08-14T15:01:33Z")
Permit chasers are undoubtedly out for a profit. Be careful with any transaction. Attorney involvement can save you from huge headaches if you decide to entertain an offer.
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### Author:  [@BAH\_FW](https://www.mineralrightsforum.com/u/BAH_FW)
#### Post date: [May 12, 2020, 2:29pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/13 "2020-05-12T14:29:36Z")
Lon,
Hopefully you did well on the two producing Nine Point wells. Hopefully NP can weather this storm and drill some additional wells at some point down the road.
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### Author:  [@Ed\_Arildson](https://www.mineralrightsforum.com/u/Ed_Arildson)
#### Post date: [May 12, 2020, 9:35pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/14 "2020-05-12T21:35:27Z")
BAH\_FW, welcome aboard! The new Nine Point Wells have done quite well so far.
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### Author:  [@MRFAdmin\_SV](https://www.mineralrightsforum.com/u/MRFAdmin_SV)
#### Post date: [January 11, 2025, 6:24pm UTC](https://www.mineralrightsforum.com/t/permit-chasers/34821/15 "2025-01-11T18:24:17Z")