Dctex99:
Thanks for that thought. I hope you are right, just anything to speed up the drilling in this Eastern MT area. I’m hoping 2013 - 2014 will be the beginning of some serious drilling in Roosevelt County. Don’t know for sure, but should be alot of leases nearing expiration dates.
Yes, I have leases in 4 sections running out in '14, and one relative who jumped the gun on a small parcel and hers will be up in MAY '13…She will be our test case to see if they agressively renew and at what price!! It is on the section NEXT to our Producing well!!
Dctex99:
My mineral leases will expire in early 2014 so in about 8 months, I will be very interested in current bonus rates. I agree that it will be interesting to see how fast this acreage will be leased. Again, I believe numerous leases will expire in 2013-2014 and this area in Eastern MT might become a top-lease party. I do believe that all of us will be able to lease on a steady basis but we need to stay aware of the going rates and not get low-balled.
In my last conversation with our land man (Oasis Oil), I was told that they are drilling some “test” wells in Eastern Montana to test and see if one well is able to tap into both the Bakken and the Three Forks formation…and the results of these test wells will determine how they proceed now that they have most of their land under production. If tests prove positive they would like to go in this direction…if not, additional wells would continue to tap into one formation only.
David:
I was always of the opinion that both the Bakken and Three Forks would be tested as time goes on. If Oasis or another operator makes some good wells in both formations, this would most likely become the trend for this area. If this is the case, this is where “pugh clauses” would be so important and there will be many leases being either re-newed or re-leased in 2013.
At least Obama can “approve” the Keystone XL since he doesn’t have to pander to his “enviro” nuts for votes anymore. Obviously eastern montana is on the SLOW drilling program!!
Tom:
I think that you made the right move. My advice is to let the lease expire as you will be contacted again, most likely before the expiration date. I would do some research on your area prior to signing any lease. Do some research and learn the producing wells in your immediate area and find out the production on these wells. This has a major impact on your negotiating power in regards to lease bonus.
David, please keep us informed on the drilling tests upcoming. That would be great information. Are the depths of those formations that close together? I sure would not have guessed that.
Trying to find info on how to obtain documentation of ownership for alloted land that was fee pattened, with surface rights sold but mineral rights retained. Family records are incomplete. Since fee process was done BIA has no info. Contacted Roosevelt Cty - not responce to date. Where can I go for this?
I am wondering if anyone has insights into whether the Fort Peck Indian Reservation poses as a barrier to oil/gas exploration? Thanks, Tom
DCtex99, Thanks for your reply. I was offered 150.00 per acre bonus just northeast of Poplar. One explanation I received for the miserable offer was that oil companies did not want to deal with the Reservation.
They have wells on many of the reservations!!
I heard information a number of years ago that Gulf had taken leases from the The Fork Peck tribe. Do not know terms or conditions but you may be able to obtain info from Fork Peck office of BIA. I have MR’s Northwest of Poplar on fee owned land an would lease but not for $150 ac. If there are margins, companies will deal with tribal council attorneys. Oil companies have in the past left well sites in deplorable shape and have not had much favor with the BIA or the council. Believe me that if they are not monitiored they will do as little as possible to clean up their messes. It’s their own fault for poor public relations.
I would like to know if anyone has leased near Poplar, MT?
I would like to know if numerous expired leases exists in the Roosevelt County area. Since many leases are either expired or will nearing expiration, I am also curious if individuals are being contacted in regards to new leases.
Charles & Richard, As reported earlier we were offered 150.00 per acre & 18%. I passed on that offer. I spoke with a guy from Vaalco who said they drilled a few deep wells & were disappointed. I don’t believe everything I am told by a Rep from an oil company. Apparently in a deal with Magellan, they only had the rights to drill deep & not shallower for the Charles, Amsden, or Tyler. So, my sense is that Magellan is still assessing the East Poplar Dome.
Spoke with a geologist from Magellan on Thurs. She reported they interested in exploring the southern portion of the east poplar dome & possible even south of the dome border. So, if anyone has a lease terminating soon, I would encourage you to check in with them.
Tom:
Looks like Nautilus Poplar,LLC has some production near your mineral area. You are located well to the Southwest of my mineral area. I am in hopes that this Roosevelt County area will become active in 2013 and hopefully some successful drilling takes place thus increasing interest in drilling. Lots of untested areas in Roosevelt and current leases are either expired or nearing expiration.
Think Magellan might be intersted in 19,28,50…West and North of Poplar a few miles
Charles, We are in T28 sections 22 & 28 51e