Hello I am new to this and would like to see if I can find out any information. I have gas and oil rights in Renville cty ND. What is the Bakkan looking like for this area. I have done a little research since joining and Renville county is not listed as one that is under production yet. Any time table. My last lease expired abut 12 years ago for the 2 that I inherited. Thanks. Jim
James:
Looking at the ND State Land sale in May, it appears that the bonus rates range from around $80 to $245/acre. Some of purchasers are Paladin Resources and Empire Oil Company, both of which are lease brokers. The $245 acreage appeared to be in the T162; R85 area. I'm not sure if the drilling in this area is targeting the Bakken but I would guess that this target would be another formation based on these low $/acre amounts. Be sure to do your homework in order to get the best lease possible in regards to your minerals.
Charles
Thanks for the info. My dad had his lease renewed every five years from a broker in minot representing a driller in Denver for years. After his death I renewed once and also my aunt's when I inherited hers. The price then I believe was roughly $1000 for both leases for 5 years. A few years ago I got ahold of the broker who has since retired and he has no idea anymore. I contacted the driller in Denver but he's out of the loop also. I know this area is part of the Bakkan but as I said earlier I am so green at this grass won't stick. Should I contact a attorney in ND to check this out. Thanks
James:
I would not get an attorney involved in this matter at this stage. I would continue to research the posts on this forum and also there is a map and presentation on the "Million Dollar Way" website, that shows the areas in ND which are supposedly Bakken areas. There is a treasure of information on this forum and I wouldn't hire an attorney and be responsible for legal expenses unless it involves a serious legal matter. This is just my opinion. Good Luck!!
James Ferguson said:
Charles
Thanks for the info. My dad had his lease renewed every five years from a broker in minot representing a driller in Denver for years. After his death I renewed once and also my aunt's when I inherited hers. The price then I believe was roughly $1000 for both leases for 5 years. A few years ago I got ahold of the broker who has since retired and he has no idea anymore. I contacted the driller in Denver but he's out of the loop also. I know this area is part of the Bakkan but as I said earlier I am so green at this grass won't stick. Should I contact a attorney in ND to check this out. Thanks
James: The T162N R85W wells are primarily all Madison formation wells which are sour/ non-Bakken wells. If you visit the ND DMR site, they have really great search paths available.