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 area has received an offer to lease. I am interested but do not want to 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 Township 30N; Range 59E; Sections 6 & 7 and Township 30N; Range 58E; 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 had 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. Four years 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 counteroffer?
John, Can I ask the royalty percentage and length of lease? Tom
John:
Is this mineral area in Sheridan County? I have minerals in Township 31N; Range 59E; 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 Township 27 and Township 28, Range 57E. I know that Continental leases quite a bit of their other land (total 3,000 acres) so may be part of the reason. It is encouraging there 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 Township 28N, Range 22 & 28, 51E. We were offered $150.00 per acre & 18% for four years by Houck Energy, a leasing agent for Fort Worth. What were you offered & by whom? Tom
Leslie, I sent you a message and a friend request. Please accept and we can talk more. Tom
This is located in Roosevelt County. We settled for 17% and a 5-year 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 an 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 as a partnership. The original 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 anyone is working with them and how much you are leasing for. We also want to go 3 years not 4. Lands are Township 29 North, Range 50 East Section: 11 W2. So does anyone know if they really are ready to drill in Roosevelt County and when. Also how do you tell if your 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 Manamgnment
Ok now I have another question does anyone know a good mineral rights lawyer here in Billings, Mt. My sisters and I are just not sure what to do. So we are taking advice to talk to a lawyer. Thanks for all the help and let me know whatever else we should know.
Thank you
Leanne
Leanne, I have spoken with a woman by the name of Chris Peterson, I believe she is 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.