My mom and uncle each hold 80 acres of mineral rights on 153n-102w-31, this is southwest of Williston. Brigham Exploration currently holds the lease that expires in September. Today they received a letter explaining that Brigham currently has 300,000 acres under lease and can not get things drilled within the life of the lease. They included an offer of a 3/16 royalty and $1500 bonus for a three year extention. I have heard people are holding out and getting $2000-2500 bonus with a 20-25% royalty. Just wonder what you all think of this offer. They have 14 days to respond.
Also I was looking at the NDIC hearing docket and saw that EOG Resources filed an application to pool all interest in a spacing unit that contains 153n-102w sections 30 and 31. I am wondering what this means. I had thought it meant that Brigham had sold the lease to EOG but now I have no clue. Any ideas.
My brothers and I live we live out of state and want what is best for our mother and uncle.