Williams County ND - Mineral Lease Fair Offers

I own 2.22 mineral acres in Williams County North Dakota and have recently received an offer from Elan Minerals to lease the land for oil and gas development. They offered me 800.00 per acre with 1/6 royalty with a 3 year term.

Is this a good offer?

How would I let other companies know that I have land to lease to get more offers and compare?

Does anyone know of a good lawyer in North Dakota I could speak with in order to have them go over the contract?

The bonus and term length are okay but the royalty is way out-of-date. Most companies are starting at 3/16ths now. My family has a few leasing agents that we generally work with, but many offers come from landmen doing their investigative work. You might call Diamond Resources in Williston and see if they are interested or know who else might be working in the specific area that you have. www.diamondnd.com

Finding a good oil & gas attorney in ND that is not already in the pockets of the oil companies is challenging. You might try contacting NARO for a reference.

Where are your minerals located in Williams County? I also have minerals in Williams County and have recently been offered 3/16 royalty with a 3 year term with 1 year option. Your bonus is a better offer than I have received. I have not yet signed a lease.

I asked family members about attorneys and they recommended Dwight Eiken in Williston. He has done work for my family since the 1970’s and I was pleased when I spoke with him. He will know me as Deborah Haug-Jay. Rates were pretty standard, but when he reviewed the lease the landman sent me–he made several changes favorable to me. He also knew some of the landman working the area and let me know just what he thought! Good luck, hope all goes well for you and your family Deborah