Our attorney did tell us that their are area of GV that are now going for $2000. per acre so it is possible. Plus some GV owners are getting 20% .
It really a question of location location location. I think in time that will be a low number. The landman told us that eventually even section in western ND will have at least one well on it. So today’s number are never going to go down only up !!
Honesty is always the best policy !!
Can you A B send a link to the public accessibility for all to share.
I did know that you can access that kind of information. That would very helpful for us .
By stating you received the amount you did, from a lease in February of 2010, only makes the other people that leased in that area; feel as though they were cheated by getting chump change in comparison.
How is that being helpful to them?
What I did write in that post, mentioning family members and land description, was to define which parts of your tales were truthful and which were less than factual.
The royalty percent is always documented and recorded, but not the bonus per acre, nor the amount of net acres leased.
Some recordings are recorded as a memorandum, and that is usually done to protect the oil company from having to disclose their agreements. These are more common in Williams and McKenzie County, but may exist in Golden Valley.
Actually 1/6 is 16.6%…NOT 20% and 16% is very common. Please people be very careful of your figures so as not to mislead anyone!!
if you have your legal description, you can go to www.eser.org and follow the directions. This will give a fairly current look at producing and abandoned wells.
on the same hand what would be your motivation for reporting a 15% royalty rather than the actual 1/6??
Mlh, anyone can go into view documents in the recorders office in any court house in America. That is what I mean by public accessible.
OK. I thought you had a online source we could use. I think at least in the GV courthouse i(f you find room with all the landman in the recorder’s office everyday for past few years) you can access the owners name and location but the bonus & royalty amount is blocked off so you cannot see what others have received. Did you experience the same?
Obviously I am no math major either, but i can tell you that our document states “1/6”. Whatever document you viewed that reflected a change from 1/8 to 15% is incorrect. Our previous leases stated 1/12 and as far as I can determine there never was a lease for 1/8. U can pick all u want at what i say A B, but bottom line is as mlh stated, the prices are not going to go down. only up, and the figures we toss out today will be entirely different in a few months anyway. I have never set out to mislead anyone, however I do root for the small guy. We have a sweet deal, we are entirely happy with it. Contrary to what AB reads in the record, my uncle negotiated this lease in Denver over a period of several months and he negotiated directly with Whiting. I wish you all the best of luck…yes even u AB, hopefully nitpicking will get you where you want to go, our family is already there… peace out
I have mineral rights in Daniels County, Montana, is there a map I can go to on the internet to find out what drilling has been going on in this area?
Some time back I view****ed an article bashing the Obama administration for their actions in shutting down offshore and onshore oil leases on federal lands. This angered me greatly and I followed a link that brought me to this forum. I joined this forum to respond to this “Obama Bashing”. Whether intentional or not, the affect of the administrations actions, I felt, were instrumental in forcing the large oil concerns to prospect the mineral leases of private owners to further their efforts to increase production. The CNBC link below is an article that tends to validate my opinion on this. While I do not agree with the authors in regards to the other affects that this energy anaylist suggests are additional symptoms and his suggestions for correcting this, in his mind, terrible injustice to the citizens of the United States…You and I. Oil is a strategic mineral, important to our Industrial and Military aspects as well the flow of commerce in our country. Since Alexander Drake drilled the first oil well in our country two centuries ago, our government has offered up cheap oil lease
“lotteries” As a child I constantly found myself confronted with advertisements for oil lease lotteries. These lotteries allowed private citizens to bid for a lease for pennies on the dollar. This, in my opinion, was probably a good thing for us, however both U.S. and Foreign Oil Companies have for this tremendous amount of time been allowed to bid in these auctions thereby raping the U.S. Citizen of his countries birthright oil. Our Oil… I must ask you…can you tell me where to contact the American Oil Cartel?? you can not, we do not have the advantage of bargaining as a group of interest holders as other countries do. In this way we are seriously disadvantaged as we must forage forth as individuals to negotiate leases among the jungle of oil companies and middlemen that abound to get a piece of your action. We face a veritable jungle of information to sort and accept or reject in order to fulfill the goal of negotiating a fair lease. A daunting task for almost anyone at the least. But consider that, after all these years of lack of interest from the oil producers, now, and as a result of the Obama administration policies, have been blessed with that opportunity! The only ones to whom we can be both grateful and thankful to for creating this opportunity is the Obama Administration… give this fair thought the next time you see some know it all bashing our administration.
Congratulations Dctex! you have made some real progress in binding and while you may face problems in getting interest from some producers who hedge because of loose ends you will never the less fare much better united to the best extent possible. As things heat up hopefully more will come out of the woods to be known. You are definitely facing a challenge, but I feel as lease prices rise and the majority of available leases shrink your chances should increase…the upside of that would be that as time passes the royalty amounts offered will rise also.
Ok yeah Minnesota ! What about the state tax for ND do you have file that as well ?
So you live in Canada but have a NV corp and a Canada Corp ? So you collect non earned income from USA ? So how will that work with the oil in ND ?
I think we are going to need an account soon. Or even a tax attorney maybe both. For tonight another glass of wine …cheers
We will send Susie a card it is the least we can do ! She must have a inside scoop because she just when, where and who was going to be the most affected long before any body else knew any thing. She did not give her sources but they dead on each time !
141n
im 34 sw 1/4
howdy neighbor Im Ralph,Charles Kirkpatrick was my great grandpa they came out there around 1910.
You can also go to http://bogc.dnrc.mt.gov/ and open up webmapper