I recently received a mineral leasing offer on land north of Poplar. It is on land that is in fee status (non-tribal). I am wondering if anyone in the T29N, R50E general are has received an offer to lease. I am interested but do not want to a consent until I am sure the offer is of market value. Anyone?
Dctex99:
What Township/Range was this area located in? My acreage is located in T30N;R59E;Sections 6&7 and T30N;R58E;Sections 1 &12. These areas are currently under lease but will expire early in 2014. Not sure what the bonus would be for these areas. Currently leased to Legacy Reserves LP which has not been active (drilling) in this area.
We signed a Lease with Augustus May Energy, Inc. back in August for $400.00 per acre. Township 31 North, Range 51 East and Range 52 East.Was best offer we hjad received we had been offered $200.00 per acre by Houck Energy
Tom: I was offered the same thing. Not sure how to proceed but thought that was a low first offer. Thanks.
Leslie, I passed on the offer. 4 yrs is too long for me & looks like it is just an investment for them.
Tom: Thanks for the advice. Much appreciated. Is there a right time to counter offer?
John, Can I ask the royalty percentage & length of lease? Tom
John:
Is this mineral area in Sheridan County? I have minerals in T31N;R59E;Section 31 which is currently under lease to Marathon and a drilling permit has issued for this spacing unit. So far, Marathon has drilled 3 wells in this area.
All of this land is in in T27 and t28, R57E. I know that Continental leases quite a big of their other land(total 3,000 acres) so may be part of the reason. It is encouraging their is interest in re-leasing as it has dwindled in some areas. Closest well to this is the Hawkins 29-32 that crosses
highway 2.
Leslie, We are close to you in 28n 22 & 28 51e. We we offered 150.00 per acre & 18% for four yrs by Houck Energy, a leasing agent for Fort Worth. What were you offered & by whom? Tom
Leslie, I sent you a message & a friend request. Please accept & we can talk more. Tom
This is located in Roosevelt County. We settled for 17% and a 5 yr. lease, we didn’t really want 5 years but when they offered $400.00 if we went 5 the family voted for it, quite a bit of acreage involved. Other parties wanted to give us various prices for certain acreage, this company went $400 per acre for it all.
A friend of mine who has land between Culbertson and Bainville just got his 4th year options picked up by the lessees AND a large parcel that is leased to large Independent URSA that expires next year(750 acres);well he was offered $1,000 an acre if it is not drilled on before that! Yet another case where 3/4 of a Million upfront is better than a well if it happens!!
ok now I am confused we got a call from Houck Energy offering $150.00 and acre and 1/5 royalty. The last offer was the same but it was from Fort Worth Texas with the same offer and said if we didn’t take it we would be thrown in has a partnership. The orgninal lease was with Empire Oil in Williston ND, and I believe it was Houck. So we are going to counter offer with Houck Oil so would like to know if any one is working with them and how much you are leasing for. We also want to go 3 years not 4. Lands are Township 29North, Range 50 East Section :11 W2. So does anyone know if they really are ready to drill in Roosvelt County and when. Also how do you tell if you mineral rights are on indian land. I was told in Montana they were not drilling on Indian Reservations so not sure if that is true or not
Thank you
Leanne Carpenter-Mills
Leanne,
There are some really nice Madison and Charles wells on 3 sides of you and new horizontal permits 4 miles to the SE. You are on the upthrown side of a major fault that may compromise the Bakken in your area but there are at least 4 zones in the Poplar dome that are terrific. I don’t know of any unitizing process in your area so take landman comments with a grain of salt. If you have a lot of acreage, lease out alternate 40’s and contact Nautilus. They seem to really know what they are doing. Get a Pugh clause to be safe if you lease.
Gary L Hutchinson
Mierals Manamgnent
Ok now I have another question does anyone know a good mineral rights lawyer her in Billings,Mt. My sisters and I are just not sure what to do. So we are taking advise to talk to a lawyer. Thanks for all the help and let me know what ever else we should know.
thank you
Leanne
Leanne, I have spoken with a woman by the name of Chris Peterson, I believe she a geologist, at Natilus. She is very nice & open to talk. Her number is 720-484-2380. Cell: 303-594-1490. Tom
LAURA IS AN EXCELLENT ATTORNEY THAT GREW UP NEAR culbertson, highly recommend!
We use Laura Christoffersen in Culbertson with great success
Leanne:
I will agree with Mr. Johnson as I have used Laura on a couple of occasions and she did a great job. Her phone number is (406) 787-5700.