Does anyone know if they are starting to lease in Burke County, ND yet this spring?
Thanks!
I am definitely curious about this also.
I have been starting to get nibbles in Burke and elsewhere, but they insist on 5 years with low bonus rates. So far, nothing has been worth bothering with. At this point, I am inclined to not lease (I.e. going nonconsent) to see if I can get more money in the long run.
The problem with mineral leases is they are really more like land sales than true leases (if there is drilling and production) and you can get stuck with real crooks as successor lessees.
I just got an offer from Liberty Resources. $250/ acre for 4 yrs + 18.75% royalty rate. I will probably counteroffer and see what happens.
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