# Potential Lease Kraken
**URL:** https://www.mineralrightsforum.com/t/potential-lease-kraken/2591
**Category:** Williams County, ND
**Created:** [June 19, 2017, 10:28pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591 "2017-06-19T22:28:48Z")
**Posts on this page:** 9
**Page:** 1
### Author:  [@Tara\_L](https://www.mineralrightsforum.com/u/Tara_L)
#### Post date: [June 19, 2017, 10:28pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/1 "2017-06-19T22:28:48Z")
Hi! We just received a lease offer from Conquest Energy as agent for Kraken Oil and Gas. They’re offering $500 per net mineral acre and 17% royalty with a lease term of 4 years. This seems really low compared to what we received 3 years ago. Does anyone know what the going rate is currently for Williams County?
Thank you, Tara
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### Author:  [@Brandon\_Herrmann](https://www.mineralrightsforum.com/u/Brandon_Herrmann)
#### Post date: [June 19, 2017, 10:30pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/2 "2017-06-19T22:30:32Z")
What is the legal description of your minerals?
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### Author:  [@Tara\_L](https://www.mineralrightsforum.com/u/Tara_L)
#### Post date: [June 19, 2017, 10:57pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/3 "2017-06-19T22:57:49Z")
Is this what you’re asking for? Township 159 N Range 99 West, 5th P.M. Section 9: S2, NW4
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### Author:  [@Brandon\_Herrmann](https://www.mineralrightsforum.com/u/Brandon_Herrmann)
#### Post date: [June 19, 2017, 11:26pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/4 "2017-06-19T23:26:54Z")
You might want to look at the ND lease auction held last month: [https://land.nd.gov/Minerals/OilAndGasTractsResultsByCounty](https://land.nd.gov/Minerals/OilAndGasTractsResultsByCounty).
It looks like the bonus per acre that Kraken offered is in the ballpark of what they recently paid for other leases in your vicinity. However, I am not sure what the royalty was on these leases. Additionally, Lynx Oil Company bid more than Kraken on a few nearby leases, so you might try to solicit a competing bid from Lynx before doing anything with Kraken. Just my two cents, hope this helps. BH
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### Author:  [@Tara\_L](https://www.mineralrightsforum.com/u/Tara_L)
#### Post date: [June 19, 2017, 11:48pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/5 "2017-06-19T23:48:59Z")
I’ll check it out. Thanks so much for your reply!
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### Author:  [@Ed\_Ryen](https://www.mineralrightsforum.com/u/Ed_Ryen)
#### Post date: [June 20, 2017, 12:25am UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/6 "2017-06-20T00:25:22Z")
The 17% seems low. 20% is more realistic and I think you can get that. The $500/acre seems about right, I don’t think you will get the high dollar offered 4-5 years ago, but ask for 20%.
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### Author:  [@Tara\_L](https://www.mineralrightsforum.com/u/Tara_L)
#### Post date: [June 20, 2017, 1:41am UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/7 "2017-06-20T01:41:43Z")
Thanks for your reply!
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### Author:  [@Robert\_Eggebrecht](https://www.mineralrightsforum.com/u/Robert_Eggebrecht)
#### Post date: [June 21, 2017, 4:11pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/8 "2017-06-21T16:11:53Z")
About 6 months ago, we signed a lease for a $400 bonus, 3 year term and 18.75% royalty for rights not too far from yours. This was a little better than any other offers we have received in the last couple of years. Signing a lease now is a gamble, offers could go up or down depending on oil prices. I gambled on taking a lower bonus payment figuring that they would not drill if the price doesn’t improve and in three years I hope to get another lease, maybe at a better offer. Taking some payment now was better for us than not getting anything and the royalty offered was OK but not great if they do drill.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [August 14, 2018, 10:24pm UTC](https://www.mineralrightsforum.com/t/potential-lease-kraken/2591/9 "2018-08-14T22:24:52Z")