Valley County, MT oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Has there been any interest shown in Valley County near 27N 44E or 28N45E ?
I'm trying to evaluate a client's mineral rights interest (29, 32-31N-43E), and was hoping anyone with leases on producing or nonproducing land nearby might be willing to share information about leasing and/or royalty rates. Thanks, Nolan
We have an offer for $15 per acre from a small outfit who may drill an oil well on our land, but we are miles from a producing field. our only view to any leasing is the farm credit minerals www.farmcreditminerals.com, click on"lease slaes" and then "results", they leased for $15 per acre in february not too far from us. that is the highest bonus I have seen. The fort peck BIA sale had 1200 tracts on it in June, a bunch were right in our area, but they did not recieve any bids... only 52 tracts were sold in the whole sale and they were all on the north eastern side of the reservation where there might be bakken.
Not sure if there anyone leasing out here, but I saw the "Shale Exploration" geologist who said they were not leasing in Valley county because the lower bakken shale is gone south of daniels county line.
The state lease sale had a bunch of leases in northern Valley go for $1.75 per acre, but averaged $5 per acre which doesn't bode too well for the area. If you get a lease, let us know how much and if you get a well drilled, keep us informed...
We have 1600 +/- acres in T,31-R, 42/43 and they have offered up to $45 an acre plus royalties. We believe it to be worth more as there is already a capped well on it.
As executor/heir for an estate with 340 acres if mineral interests in Toole County, I need to find out status of leases / production and get an appraisal on the following parcels - A) Township 26, Range 45E, Sec 12: E2NE4SW4 and B) Township 27, Range 43E, Sec 16: S2. Any suggestions on how to find out or who to contact?
New member and would like any info. or interest in the area T35N- R40E.
DWL who made the offer to you guys?? any other terms?? we have some holdings in the area as well.
I am mostly interested in leasing activity in T33 N. R41EMM.
Is there interst or activity in this area?
I alsoneed to know what pooling is. Cousins and sibling have mineral rights in Valley County. The partials range in acreage of 4 to 100 acres? Do you need to get attorney to set up pooling? Is this the best way to get considered for leasing? Thanks
Only recent activity I see in your Township is a couple of state leases taken at auction. Production, permitting and leasing activity seems many miles away from your acreage at this point.
There is a good oil field 15 miles SE and some leasing activity 12 miles west. You are near the outer limits of the Bakken Lodgepole study area but should cooperate with any efforts to do seismic exploration in your area. Since pooling is initiated by operators in known areas of deposition established by drilling and production, there is no reason for you to pursue the concept.
Gary L Hutchinson
Thanks Gary for the info. Are you saying that geologic studies have not been this far west of the Bakken?
DM I have no clue. This guy called out of the blue and was waving possible numbers at me and wanted to send me papers to sign. I never heard from him again after I told him I would get with the family and look over his proposal.
I'm just saying that the geologic studies show that the Bakken formation was not deposited or doesn't exist west of the east county line of Valley.
Don't dispare. Shallower oil deposits do exist in eastern Valley county.
Generally, it takes seismic studies to find them.
Drilled in 2006 to the Bakken, no oil. recompleted to the judith river and eagle. Gas, but was not a commercial grade. what does that mean and is there any hope for gas production from this well?
We received another offer. This time they sent paperwork to back it up. I am curious what a good offer would be for Valley Co. The starting offer is 15% royalty and $65 an acre. Does this sound fair or should we hold out for more, don't want it to just evaporate away while we wait for the pot of gold. Thanks for any help.
With that much acreage and the what is going on in the w2 31-44, it is worth strategizing on how you lease. Of course Locatdion is the primary consideration for both parties but you may be giving up very good acreage at a low average price. I hate dealing with averages as the owner takes it in the shorts every time. R 42 may be ok for short term lease at 65 but you better take a hard look at anything in E R 43 at that price.
I not the that the "average" offer is up 45% from earlier posts. You should find out why.