Mike Zimmerman in Billings, MT. Reasonable rate and easy to work with. We were pleased with his work.
Joanne G thank you for Mike Zimmerman, my sister and brother inlaw met with him yesterday and they were very impressed. We still don’t know what we are going to do, but looks like we will be putting in a counter offer sometime next week.
Thank you everyone and I will post what we decide.
I am interested in learning what company holds the majority leasehold in my section. Other than researching records at the County Clerks office, is there any other source available on the website which would provide this information.
Tom, I think 28-51 is a good one. I don’t know shat you mean by “22”
Charles, Your area is a much different environment because it is far deeper into the depositional basin. You are across the deep fault.
Gary H
Leslie, your acreage is in one of the 5 best townships west of the NE-SW trending, deep seated fault system that is in the County. Seismic coverage is fair and some lines have been drilled upon and producing although not many. If you are in Sections 27-34 think about 5 rear leases without extensions or liberal HBP clauses but elsewhere, more opportunity may exist for the imaginative mineral owner.
Leslie we just signed with Houck Energy for $150.00 an arce and 1/6th royalty for 4 years. We had a few clause taken out the contract per our attorney Mike Zimmerman’s advise. My sisters and I are 29north range 50east section 11:w2.
Thank you, Mr. Hutchinson. I know the Fort Peck Tribe requires a $250 per mineral acre minimum but have you heard of any leases going for $150?
Les
Mr. Hutchinson, Does the “5 best townships” include 28n-22-51e? Thanks, Tom
Just wondering if anyone has heard of, or participated in, recent leasing activity in the T29N R50E area north of Poplar. I’ve had one offer but turned it down.
Leslie, I see that the state acreage at auction in 2010 was at $150-$170 and see many offers at $150/4years. A maybe price in the area for short term, clean leases in one section, not on seismic lines or near production from the Poplar Fields Complex as long as it encourages wildcat drilling to depth. Take advantage of the Tribes Minimum and cut down on lease speculation.
I’m waiting for Houck or Fort Worth to drill on a seismic anomaly to test below 5000’ and get a hook in the water, so to speak.
Sorry Gary, I was referring to section 22. (we are in 22 & 28) Thanks for your response. Tom
Gary;
Does this area T29;R50 have some of the same characteristics as my area in T30N;R59E?
Leslie:
Curious as to when the Tribe went to a $250 per acre minimum.
Do they still do auctions?
Thanks Gary. Will be interesting to see what formations will eventually be targeted over the coming years.
Steve: I’m not sure the date the tribe went to $250 but it has been awhile. I discovered this when talking to the folks in Poplar about 8-9 months ago and was reminded again a few weeks ago. I don’t know about auctions and am not sure what they are.
Statoil reports two Roosevelt completions in the T28N;R59E area with IP’s of 1879 bopd and 2518 bopd. All mineral owners with expiring leases should take note of completions in your areas as some great leases should be negotiated if these type wells continue to be drilled.
There are numerous leases in the Roosevelt County area that are either expired or nearing expiration dates. One thing to keep in mind when negotiating a new lease is the importance of a pugh clause. The reason being is the existence of the Three Forks formation which is located below the Bakken. This formation has been targeted very little as the Bakken has taken center stage over the past few years. Sources are saying that the Three Forks could be another great source for oil. In the event that this formation lives up to it’s predictions, the mineral owner would stand to expand their leasing power in the future which could in turn mean more money for the mineral owners.
I agree in that from what I gather, re-leasing is becoming very active in the Roosevelt County area. Actually, lots of the leases nearing expiration or expired was negotiated back in 2008 - 2009 and if the cards are played right, the mineral owner will come out ahead. Again, I will make sure that a pugh clause is included in my future leases in order to protect the Three Forks.
It seems oil companies are just doing hot areas for now but stepping up on re-leasing which can be better than a well. My best friend in Culberson will pocket $150,000 this year and no wells, while many WITH wells are just getting a couple of thousand a month because most own only a part of 1280 acres!!! I recommend also having a consultant look at your lease so you are covered!!
I read that Samson Oil and Gas LTD is selling their mineral acreage in their Roosevelt Project including their wells, Australia II, Gretel II and Abercombie. Understand their selling to a Houston based operator. Anyone know any details on why they decided to leave the Roosevelt area other than raising money for their ND operations.