What is the latest news on gas leasing in Burke County, North Dakota? 2024 update. Mineral Rights forum does not seem to have any current information. Acquire is offering a lease.
Please give a section, township and range. County is too large to give a general comment.
I moved your question to the Burke County topic area.
October 2024, Just checking with others in Burke County North Dakota. Township 161 North Range 93 West Section 15 NE / Township 163 North Range 94 West Section 26 NE…Have just gotten lease offers from Lynx Oil company and Aqyre. Lynx pushing for us to sell which we will not sell. Getting leases to go over each and then have attorney go over each one and advise. Seems to be activity in area but will see what other owners are getting in offers at this time and what they have to say. Thanks.
We have an offer from Aqyre for 161-94 West-Section 12. They are offering $350/ acre for 4 years + 1 yr option and %18.75 royalty. I will counteroffer. I have rejected offers from Lynx due to their unwillingness to negotiate. They just wanted to buy or get a very flippable lease.
Interesting. Can’t say I disagree about some of the land men out there. I think most of the low hanging fruit is gone and some of them are surprised that some of us remaining don’t think they are doing us a big favor by waiving some minor cash in front of our noses. With lots of new wells being drilled or proposed, I’d rather wait and see what happens unless someone offers me a premium. If that doesn’t happen, that is okay too. Will I later regret it? Maybe or maybe not,
Thank you for your response. 161-93 West Section 15 / 163-94 West-Section 26…Aqyre offered $450 net acre-4 years, option and 18.75 % royalty…I signed a lease with Aqyre in 2018 for 5 years, so now seems they are coming back and making an offer for another lease. We are having our lawyer go over contract to lease and negotiate terms with counteroffer. Lynx is really pushing to sell but also to sign NOW…They just upped offer to $600 net acre. I do agree with you they really seem to want to buy and flip lease. Will update with new information as soon as we have a lease contract we feel is acceptable. Thanks again.
What did you end up doing? I got minerals around lignite. Was just curious if anyone has heard of anymore leasing going on. Thanks
Received an offer of $450/mineral acre 4-year 18 % royalty Township 163 N Range 94. I have no clue if this is reasonable or not. Please share your thoughts.
Welcome to the forum. Bonus amounts are not public, but someone on the forum may reply with what they have been offered. Many mineral owners would rather have a three year lease, not four. The bonus is not the important issue. The clauses in the lease are more important. Wise to get an oil and gas attorney to review the draft lease before signing. Also, never hand over a signed lease without getting paid the same day.
Listen to what M_Barnes says. And I would reiterate that you need to negotiate terms. Never take what they offer and get a lawyer as there are so many clauses you will want to add to the lease for your benefit.
I would go for a 3 year, not 4, but again, some of your terms can speculate drilling clauses. The main thing is your percentage royalty. Try and get closer to 19% if you can. Our family has minerals in Township 161N, Range 94 and 93 and sections within those ranges.
We used a lawyer out of Powers Lake, Amber Fiesel, but she is getting very busy. She knows leases inside out though.
There’s a lot of action right now in Burke county with various companies. We’re with Silver Hill which bought Liberty Resources. You can check online on the ND site for active drilling wells, Confidential wells, and Daily reports.
Active Drilling Rig List
Daily Activity Report Index
Confidential Well List
Thank you. They have a clause showing payment within 45-days. I will take note of payment immediate or at least a more reasonable timeline.
Thank you, Beth7. That’s a lot and makes sense. I will proceed forward.