we own 880 acers of oil gas rights in Roosevelt County Montana
we have had a few leasing offers . anyone here had the rights leased ?
I’ve also had one offer in that area but am waiting to see if I get any other offers since one of my relatives received 3 offers from different oil companies. If you dont mind me asking, what were the terms of your lease? I think mine was on the low end> $50/acre bonus, 5 year lease, 18.75% (3/16)royalty
Mar:
We have minerals in Roosevelt County which are located in T30N;R59E but we leased them back in 2008 when bonus amounts were low. I would suggest you try to contact neighbors around your mineral area for current bonus amounts. You can also go to the Montana Land Mgt. website to see what acreage leased for at the State auction and this will give you an idea even though these figures will be probably be higher than what you will recieve. You didn't state where in Roosevelt County these minerals are located and the area does make a difference in the bonus amounts.
Miss SC said:
I've also had one offer in that area but am waiting to see if I get any other offers since one of my relatives received 3 offers from different oil companies. If you dont mind me asking, what were the terms of your lease? I think mine was on the low end> $50/acre bonus, 5 year lease, 18.75% (3/16)royalty
Miss SC
We had a offer of $150/acre bonus, 5 year lease, 14 % also
$300/acre bonus, 5 year lease, 14.% Did not sign either the low offer was from a ( Lease hound ) the other from a oil drilling company.Mar:
The bonus of $300/acre sounds a bit low for this area. I would not consider a 5 year lease as 3 years would be the max. Also, I would not consider anything lower than 18% royalty. Again, do some research on what companies have already leased in your area and advertise your minerals on your terms. Time is on your side so if you hold out for several months, I think you will everntually get a better deal all around.
Mar said:
Miss SC
We had a offer of $150/acre bonus, 5 year lease, 14 % also
$300/acre bonus, 5 year lease, 14.% Did not sign either the low offer was from a ( Lease hound ) the other from a oil drilling company.
Charles
advertise your minerals on your terms. Where do you advertise ? Thanks
Mar:
I would start by researching what companies are leasing or hold leases in that area. I would then contact their land departments in regards to your mineral property. You can go to the Montana Minerals Mgt. website to get an idea on what bonuses were paid at aution over the past year in your area.
Mar said:
Charles
advertise your minerals on your terms. Where do you advertise ? Thanks
Hi all,
It was only a week ago that I logged in to the MRF and am grateful to a few with regard to mineral rights in Burke County, ND who opened my eyes a bit to what to seek from the landman offering a new lease as a current one expires in March. Prior to my involvement, my mother was alive at the time and probably never questioned the paperwork like many wouldn't that has never had access to a site like this or the generousity of those who have been there/done that.
I returned to my home this weekend to look up the mineral rights lease for Blaine County, MT and was surprised it is DUE on 1/27/2012...a scant week away. There has been no contact by the existing company Devon with regard to the lease expiring.
Due to probate and my mothers will, I am granted a third of the mineral rights and am hoping someone might share with me if there is any activity in Blaine County. Perhaps not like Burke county, ND but I do not know how far the Bakken stretches or how it is affecting Montana.
Your help or suggestions as to who to contact, landman or otherwise would be appreciated. Thanks!
T Starkweather:
Unfortunately, I'm not familiar with the Blaine County area but sounds like you will need to find avenues to market your minerals. I would first contact Devon and see if they are interested in negotiating a new lease. If that fails, you need to find out what company is leasing in that area. You might go to the lease auctions and get that information. The other way would be to contact some of your neighbors and find out from them who is leasing in the area. Good luck!!
T Starkweather said:
Hi all,
It was only a week ago that I logged in to the MRF and am grateful to a few with regard to mineral rights in Burke County, ND who opened my eyes a bit to what to seek from the landman offering a new lease as a current one expires in March. Prior to my involvement, my mother was alive at the time and probably never questioned the paperwork like many wouldn't that has never had access to a site like this or the generousity of those who have been there/done that.
I returned to my home this weekend to look up the mineral rights lease for Blaine County, MT and was surprised it is DUE on 1/27/2012...a scant week away. There has been no contact by the existing company Devon with regard to the lease expiring.
Due to probate and my mothers will, I am granted a third of the mineral rights and am hoping someone might share with me if there is any activity in Blaine County. Perhaps not like Burke county, ND but I do not know how far the Bakken stretches or how it is affecting Montana.
Your help or suggestions as to who to contact, landman or otherwise would be appreciated. Thanks!
Thank you Charles as I had looked a bit last night, anyone using the net in recent years knows it doesn't seem to be getting easier to research items any more than it is to get a reply from many companies you ask questions of, etc. The term "landman" is somewhat new to me also and just finding a suitable list of those that are brokers for the oil companies isn't easy. So the search will be on!
T Starkweather:
In regards to lease broker contacts, there are two that I have dealt with in the past and had good experiences with both. They are: Great Northern Energy, Inc. (Bismark, ND).....(701) 663-0820 and Empire Oil Company (Williston, ND).....(800) 774-2845 . You might want to contact both and maybe get some info on what's going on in Blaine, County.
T Starkweather said:
Thank you Charles as I had looked a bit last night, anyone using the net in recent years knows it doesn't seem to be getting easier to research items any more than it is to get a reply from many companies you ask questions of, etc. The term "landman" is somewhat new to me also and just finding a suitable list of those that are brokers for the oil companies isn't easy. So the search will be on!
Based on your suggestion Charles, I contacted Empire and spoke to a person by the name of Stacy that actually was a bit short with me. Whether young or old, those in an experienced position tend to forget that new people need just a bit of latitude when asking questions for the first time. Considering I am trying to glean knowledge about Blaine County Mt and that Stacy was in Williston, ND I can understand not being on top of exploration in MT but still...like I said it's like pulling teeth to get help from anyone. Her bottom line comment was she would pass along my name and phone number and IF she found someone that was interested in contacting me she would pass along my contact information. To me, that was an inappropriate but only response I would get. More than likely that would set the stage for any future consideration.
I contacted Devon whose name was on the lease signed 5 years ago and the point of contact stated at this time Devon wasn't looking to sign anything but that perhaps 5 months down the road they might. That means, to me, that the search will continue and will see what, if anything will surface. On one hand I would think a company would have free reign to explore under the guise they have a lease and get away scott free...but that is just a comment. In todays day and age I'm sure there is a lot of scrutiny going on.
Again, thanks!
T Starkweather:
Sorry to hear Empire didn't work out well. Did you try Great Northern Energy? I know this can become a tedious process but you must contact as many as possible in hopes that one will be interested. I will look back on some of my past records and in the event I come across another contact, I will let you know. The problem is that very little activity is possibly taking place in this County which makes your quest that much more difficult.
T Starkweather said:
Based on your suggestion Charles, I contacted Empire and spoke to a person by the name of Stacy that actually was a bit short with me. Whether young or old, those in an experienced position tend to forget that new people need just a bit of latitude when asking questions for the first time. Considering I am trying to glean knowledge about Blaine County Mt and that Stacy was in Williston, ND I can understand not being on top of exploration in MT but still...like I said it's like pulling teeth to get help from anyone. Her bottom line comment was she would pass along my name and phone number and IF she found someone that was interested in contacting me she would pass along my contact information. To me, that was an inappropriate but only response I would get. More than likely that would set the stage for any future consideration.
I contacted Devon whose name was on the lease signed 5 years ago and the point of contact stated at this time Devon wasn't looking to sign anything but that perhaps 5 months down the road they might. That means, to me, that the search will continue and will see what, if anything will surface. On one hand I would think a company would have free reign to explore under the guise they have a lease and get away scott free...but that is just a comment. In todays day and age I'm sure there is a lot of scrutiny going on.
Again, thanks!
T Starkweather:
Looking back in my notes, I did come across a company who at one time was leasing in the Blaine County area. The company is as follows: Montana Land & Exploration, Inc.; phone number is (406) 357-3266. This is a Canadian based company if I'm not mistaken. It appears their leasing was in the area of 31N;20E. That's about all I came up with for Blaine County but if I locate more contacts, I will post them.
Again, thank you Charles. I know it's time consuming and I can and can not review during the day. As someone new to this, I'd like to think it's a simple matter of locating any number of oil producing or exploration companies and within their site they'd provide easier links for those holding mineral rights and a number to contact. Instead it seems they have to hunt out the mineral rights owners...doesn't make a lot of sense to me. Certainly, speaking on behalf of all the others just starting out or finding themselves as beneficiaries, you are thrown into the pack at times and have to look hard to find a way to get back on top again. Through those like yourself there is some assurance of help at least.
I'm sure you know your Township/Range/Section. Google "eser.org" and plug in this information and it will give a map of the area along with the existing wells and information on each well. I located some additional paperwork on Montana Land & Exploration and it appears they were serious about developing the Blaine County area at one time. I can't verify their status today as things change without a notice in this industry. Would be worth a phone call.
T Starkweather said:
Again, thank you Charles. I know it's time consuming and I can and can not review during the day. As someone new to this, I'd like to think it's a simple matter of locating any number of oil producing or exploration companies and within their site they'd provide easier links for those holding mineral rights and a number to contact. Instead it seems they have to hunt out the mineral rights owners...doesn't make a lot of sense to me. Certainly, speaking on behalf of all the others just starting out or finding themselves as beneficiaries, you are thrown into the pack at times and have to look hard to find a way to get back on top again. Through those like yourself there is some assurance of help at least.
Wow...super! I did look at Eser.org and alas...the Section our acreage is located in doesn't have any activity anywhere nearby but an inactive gas well in position by Devon....well it certainly has aided my search Charles. How long have you been doing this by the way? Name is Tim...Thanks!
Tim:
I sent you a friend request in order to further our conversation.
T Starkweather said:
Wow...super! I did look at Eser.org and alas...the Section our acreage is located in doesn't have any activity anywhere nearby but an inactive gas well in position by Devon....well it certainly has aided my search Charles. How long have you been doing this by the way? Name is Tim...Thanks!
Tim:
Did you get my message on friends?
charles s mallory said:
Tim:
I sent you a friend request in order to further our conversation.
T Starkweather said:Wow...super! I did look at Eser.org and alas...the Section our acreage is located in doesn't have any activity anywhere nearby but an inactive gas well in position by Devon....well it certainly has aided my search Charles. How long have you been doing this by the way? Name is Tim...Thanks!