Township 0159N R100W Sec 21 and 27
Received a call today from a Landman offering $1000 per acre, 3 year lease, 20% royalties. I expect to receive the paperwork soon. This seems to be a good offer, and is greater than the previous lease that expired in 2015.
Unlike that 5 year lease that ran it's course and expired with no results (that I know of), the Landman stated that drilling was to start next month!
These minerals are part of my mother's estate, she passed away in 2013--in Texas. I probated her will here, and now must look into Ancillary probate of her will in North Dakota as well. I would appreciate any advice or instruction on how to go about this, thanks.
Contact Gary Beaudry who has an office at Williston - gmb322@hotmail.com
Is this what the offers are now in Williams county? We have been offered 600 and we can’t seem to find out if that’s a, good offer.
Gary may have an idea on that subject.
N D has what I call a 'lawyer full employment rule' and as far as known, requires probate to be done in ND.
I was offered the same for sec 29 and 33. I wasn’t told of any “drilling next month”. Why do they need a three year lease if they are drilling next month? I tend to feel like not accepting the same offer that was presented to me and have indicated that intent to the landman more than a couple of times. The landman is very nice, I have no problem with him, I just want to make certain I get what is fair. What is not fair to me may be fair to another mineral owner. I have learned so much since signing my first lease in the early 2000’s (for a different area) that I am very cautious about signing a lease. It sounds like a big deal when you think about a check for thousands of dollars showing up , and it is, but to me what is even more important is the checks that will come monthly and my decimal percentage. As far as probating - I had to probate all the way back to my grandfather. It takes a fair amount of time to get it all completed. I think most probate attorneys in Williston are familiar with exactly what to do. When I needed to do it some attorneys were so backed up with probate cases because of mineral rights, I had to keep looking. I think it may have slowed down some at this point though. It sounds like you are not in North Dakota . I wasn’t either. I looked up the attorneys in Williston on line and just started calling. A few years after all was probated, another little piece of mineral acreage was discovered in my grandfather’s wife’s name and I had to probate that piece all the way back to her. So to sum it up, that seems to be what they are offering at this time and most Williston probate attorneys have done this many times regarding mineral acreage.
Follow the advice of others here and seek the advice of an oil and gas attorney practicing in ND. Also, understand your options and the difference between signing a lease, going non-consent, and participating in a well. Understand the different parts of a lease and how they interact. Whether you get a $1000 bonus or a $1500 bonus should be low on your priority list. The language and provisions in the lease are far more important than the bonus amount. This will almost certainly be the last lease you sign. It will likely be held by production within a year. Research and understand Pugh clauses. Just my 2 cents.
Crescent Point Energy is very active in this area and opened a permit to drill the unit in sections 21-16. No open permit exists that I see for sections 27, 29 or 33.
Kraken Oil and Gas is also active in the area.
Don't rush, do your homework and make a sound decision.
We accepted this same offer. I hope we did the right thing. They started with a really low offer and had no problem upping it. I feel it was too easy and wonder if we did the right thing.
FYI, as of 4/4/17 the ND Oil and Gas website shows an active drill in the spacing unit covering T159 100W sections 21 and 16.