Reply with your experience in oil leases in Williams County, ND. Top leasing and re-leasing is beginning to pick up.
Share what you were offered for lease term, bonus, % royalty, township/range, and net mineral acres or some idea of property size large or small. This will give us all a good idea for what is a fair offer.
From another post:
Accepted a 3 yr lease for $2200 per acre, 20% in T154 R100 Sec7. Good Luck to all.
Offered $500 bonus/acre and 3/16 royalty for a one-year extension in T153, R100, Sections 20, 28 & 29; 20 acres - I think it is way too low. I'd like to hear from others. What should I expect for a 1 year extension vs. a 3 year lease? Is it better not to extend the existing lease and negotiate a new lease?
JS
Leased T155 R97 Sec 4 & 5 August 2010 $500 bonus/acre 3/16 royalty
Leased T157 R98 Sec 34 May 2010 $500 bonus/acre 3/16 royalty
Both are 4 year lease and our first time dealing with this, I used legal help out of Williston and think we did ok back then. Today I think we could do better on the royalty side of lease. Maybe bonus too.
Offered $1000/ acre and 1/5 (20%) royalty for T158 R97 Sec 17 for 3 yr (no automatic add on). This is a top lease with 25% now and 75% at end of current lease in January… Thoughts?
Is this Mineral lease only? How many acres?
Reagan “R.T.” Dukes said:
From another post:
Accepted a 3 yr lease for $2200 per acre, 20% in T154 R100 Sec7. Good Luck to all.