Wondering if there is activity in our area we own rights to:
Slope County, North Dakota: Section 12, Township 134, Range 103.
Joe, It seems Marathon is slowly leasing acres in Slope. However, they have been seeking 5 yr leases. So, it seems as though it is going to be a couple of yrs before those who have leased will be drilled. The fact that most, if not all operators have moved to multi pad wells means it is going to take more time to move out geographically from to the hot areas. Tom
Joe, nothing recent. Chesapeake did pull permits for 19 wells in and around 135-104 in 1996 for the Red River-B formation but they never drilled. I have heard of other companies having a slight interest in the Red River in Slope. Completion techniques have come a long way since 1996. I wouldn't want to be the test bed well but I would hope that some one drills. Unfortunately the offers I have been hearing about are in the $50 bonus range and 1/6, 5 year, from a year ago to $75 and 3/16, for a 3+3+3, yes an additional 2 three year options to extend with the third option at $100. I would rather they come right out and say 9 years $250 but they are obviously wanting to be able to walk away at any point and cut their losses after getting 6 years deep after $150 an acre. This was Empire oil. Those mineral owners were nice enough to tell me that they negotiated 4+3 $100 3/16 but I do not know if they accepted it or not. This is the most I have heard in your area for a long time. I would be a little more optimistic but I wouldn't get my hopes up too much yet.
we own rights in slope co. section 21 township 135 range 98 . im wanting to lease this. I live in texas. any help would be appreciated thanks ed
Ed, We are in sections 7 & 18 and are unleased. Marathon is slowly leasing acres in Slope. They sought leases in the 4th quarter of 2012. I expect/hope they will do the same this year. Tom
Bumping this because I am curious if there is anything new in or around my area of Slope County, North Dakota: Section 12, Township 134, Range 103.. ANY HELP IS APPRECIATED!