For all of those that are interested in talking to a professional landman in the middle of the Williston Basin that will be willing to help answer any questions one may have in the Bakken/Three Forks areas I am open ears. Please feel free to contact me via this discussion, email or IM, and we can get a phone conversation going as well.
Information is the best tool one can have.
Mat Ekblad
How familiar are you with activity in Bottineau County?
Mat, can you contact me at jhollaway@trinitymmc.com? I’m researching bonus rates in Williams County, ND for a client, and I have no idea what the bonus rates are. The U.S. Lease Price Report for July - August 2010 shows the low at $1.00/acre and the high at $7,100.00 per acre, with the most common at $2,000 per acre. Thanks for any info you can share with me.
I have a pretty good idea on what is going on out there.
Andrew C Edwards said:
How familiar are you with activity in Bottineau County?
10 acres in 320 acres… offer is $50.00/acre bonus + 1/5th royalty less taxes. Val Verde County, Texas. 3 year + 2 year option. Decent offer?
Martin, Go with $75/acre without a 2 year option, go for a straight 3 year lease, royalty is good.
Martin B. said:
10 acres in 320 acres… offer is $50.00/acre bonus + 1/5th royalty less taxes. Val Verde County, Texas. 3 year + 2 year option. Decent offer?
Shoot me an email, or a phone call.
DM said:
Mat, I have acreage in the Medicine Lake area Sheridan County Montana. Got a call about leasing the other day and want to get an update.
Thanks, Doug
We have 950 mineral acres in Bottineau County and a lease offer of $105acre,3/16th royalties,3 year with a 2 year option. What is your opinion of this offer?
Andrew C Edwards said:
How familiar are you with activity in Bottineau County?
Andrew Why dont you give me a call, I will need some additional info from you to give you a reasonable answer.
Thanks
Andrew C Edwards said:
We have 950 mineral acres in Bottineau County and a lease offer of $105acre,3/16th royalties,3 year with a 2 year option. What is your opinion of this offer?
Andrew C Edwards said:How familiar are you with activity in Bottineau County?
I would like to contact you regarding Bottineau Co. How can I do that?
701-770-4216
Thanks Mat. I am going to have another family member who is just as knowledgable about our land give you a call. I am heading into Colorado back country and my phone reception will be spotty at best for a few weeks.
Mat Ekblad said:
Andrew
Why dont you give me a call, I will need some additional info from you to give you a reasonable answer.
Thanks
Andrew C Edwards said:We have 950 mineral acres in Bottineau County and a lease offer of $105acre,3/16th royalties,3 year with a 2 year option. What is your opinion of this offer?
Andrew C Edwards said:How familiar are you with activity in Bottineau County?
I was left a message from one of your family members, but was unable to pick up the return phone number.
I own mineral rights in ND and would like to try and figure out what the value is if we were to sell them? Anyone know how to value or recommend someone?
Has anyone ever taken a credit loan against your Mineral Rights value or royalties?
Scott Feel free to contact me, I assess minerals, as well as work with multiple agencies that purchase minerals.
701-770-4216 Mat Ekblad
Hi Mat! I am in New York State and just received a call from someone from XTO. She said my Grandfather’s sister left him property in I believe Williams County, North Dakota. My Grandfather died in 1975. My mom (his daughter) in 2002. I have 3 siblings, 2 in Washington State and one in Southern California. This lady, Karen Someone said she wanted me to call her as we are the heirs to 1/2 of this property. My uncle inherits the other half. They want us to sign a lease with an upfront Royalty. Reading this forum I see there is a lot I don’t know. I work in the medical field so this is all Greek to me and I don’t want to be taken advantage of. I believe at least 2 of my siblings will go with my decision. Possibly my sister too. If you have any advice I would be very grateful. I have no idea at this time exactly where or how many acres but should know more tomorrow. Take Care and God Bless. Vickie P
Hey Mat,
Just curious but what company do you work for or do you represent yourself? Also, which city/town in North Dakota are you based out of? Thanks
Sincerely, Phil
Whoa! Slow down. If you have inherited minerals in Williams County, which is in western North Dakota, you may have some valuable minerals. First, get your mineral deed in hand. Second, don’t rush to lease. You need to get some comparisons. Get XTO’s offer, for example, and then contact Continental’s 800 number and ask a landman to contact you. See what offers you get. These people won’t walk away without a lease. When you have settled on an offer—and your royalty should always be at least 3/16th—then contact an oil attorney to go over your lease and clean up the bad parts of it that favor the oil company. Don’t know what bonus rates will be offered—what I think you mean by “upfront royalty”—but I would guess in the $400 to $1,000 an acre range. Will depend where in Williams County.
Vickie Warnick-Peunic said:
Hi Mat! I am in New York State and just received a call from someone from XTO. She said my Grandfather’s sister left him property in I believe Williams County, North Dakota. My Grandfather died in 1975. My mom (his daughter) in 2002. I have 3 siblings, 2 in Washington State and one in Southern California. This lady, Karen Someone said she wanted me to call her as we are the heirs to 1/2 of this property. My uncle inherits the other half. They want us to sign a lease with an upfront Royalty. Reading this forum I see there is a lot I don’t know. I work in the medical field so this is all Greek to me and I don’t want to be taken advantage of. I believe at least 2 of my siblings will go with my decision. Possibly my sister too. If you have any advice I would be very grateful. I have no idea at this time exactly where or how many acres but should know more tomorrow. Take Care and God Bless. Vickie P
Vicki, Well it is a nice surprise when you get a phone call like that isn’t it. If you would like to call or email me I would be more than happy to speak to you about your situation.
Thanks Mat Ekblad
ekbladenergy@yahoo.com 701-774-3161
Vickie Warnick-Peunic said:
Hi Mat! I am in New York State and just received a call from someone from XTO. She said my Grandfather’s sister left him property in I believe Williams County, North Dakota. My Grandfather died in 1975. My mom (his daughter) in 2002. I have 3 siblings, 2 in Washington State and one in Southern California. This lady, Karen Someone said she wanted me to call her as we are the heirs to 1/2 of this property. My uncle inherits the other half. They want us to sign a lease with an upfront Royalty. Reading this forum I see there is a lot I don’t know. I work in the medical field so this is all Greek to me and I don’t want to be taken advantage of. I believe at least 2 of my siblings will go with my decision. Possibly my sister too. If you have any advice I would be very grateful. I have no idea at this time exactly where or how many acres but should know more tomorrow. Take Care and God Bless. Vickie P
Vicki, It would be difficult to get a Mineral Deed in hand like Ruth suggested. More than likely if you are the heir to the minerals by way of grandfather or grandmother and then mother or father then their estates would either have to be probated or the probate reopened, then a PR Deed done to get the minerals to you and other heirs by way of deed. Which generally is an expense to you and the other heirs. When an Oil company is going to lease you as an heir they generally will use a document called a Proof of Death and Heirship which allows them to lease the heirs of an estate. This doc is done at no expense to you, but to get the minerals passed by way of conveyance, you will need to either find a Last Will and Testament of the deceased that may pass interest or distribute by way of the Laws of Intestacy and appoint a PR. That would need to be done to receive royalty payments off of a producing well. At times oil companies will help with this to clear title.
Hope this helps.
Mat Ekblad
Ruth said:
Whoa! Slow down. If you have inherited minerals in Williams County, which is in western North Dakota, you may have some valuable minerals. First, get your mineral deed in hand. Second, don’t rush to lease. You need to get some comparisons. Get XTO’s offer, for example, and then contact Continental’s 800 number and ask a landman to contact you. See what offers you get. These people won’t walk away without a lease. When you have settled on an offer—and your royalty should always be at least 3/16th—then contact an oil attorney to go over your lease and clean up the bad parts of it that favor the oil company. Don’t know what bonus rates will be offered—what I think you mean by “upfront royalty”—but I would guess in the $400 to $1,000 an acre range. Will depend where in Williams County.
Vickie Warnick-Peunic said:
Hi Mat! I am in New York State and just received a call from someone from XTO. She said my Grandfather’s sister left him property in I believe Williams County, North Dakota. My Grandfather died in 1975. My mom (his daughter) in 2002. I have 3 siblings, 2 in Washington State and one in Southern California. This lady, Karen Someone said she wanted me to call her as we are the heirs to 1/2 of this property. My uncle inherits the other half. They want us to sign a lease with an upfront Royalty. Reading this forum I see there is a lot I don’t know. I work in the medical field so this is all Greek to me and I don’t want to be taken advantage of. I believe at least 2 of my siblings will go with my decision. Possibly my sister too. If you have any advice I would be very grateful. I have no idea at this time exactly where or how many acres but should know more tomorrow. Take Care and God Bless. Vickie P