We own mineral rights on T 154 R 100 Section 6 and up until a week ago wells 35985, 35987, 35986 were showing as “drilling”. Wells 32442 and 32443, were also showing as “drilling”. Today when I checked, the first three wells have no markings at all, and wells 32442 and 32442 are listed as “Confidential.” Can anyone help me decipher what is happening with these wells?
Confidential status is when the Operator can ask the State to keep all information secret for some period of time, usually 6 months, but that can vary by State. They typically will do it when they don’t want their competitors to know how much their well is producing, in case there are unleased minerals in the area.
If I had to guess, I’d say those wells are now producing, or very close to it.
You will get a division order then they will give you a check for 6 months of production. In North Dakota it’s in confidential status for 6 months. Will be exciting for you when they pay you. Keep your division orders on file. I get a 20% royalty. That was the going rate in 2010. Good luck to you. Never sell my grandma would say. One never knows how blessed you are.
First of all, I’d like to say that I am new to this forum and that I joined for the purpose of doing research on the Bakken oil boom. I see in your post that a 20% royalty was the going rate in 2010. I’m hoping to find out what mineral leases were going for, on a yearly basis, between 2008 and 2014. I would appreciate any information anyone could provide on this subject. Thank you very much.
Mineral lease prices are generally confidential so there is no public list of prices. Actual prices would depend upon the market conditions at the time of leasing, the perceived value of the reservoirs at the time and therefore would range from location to location within the state and by county and by township. The minimum rate for ND is 1/16th if I remember correctly. The lease prices would generally follow oil prices for the time frame you are asking about. Higher oil prices, higher lease prices. Areas with good potential, higher prices. Areas with lesser potential, lesser prices. There may be certain leasing companies that have their own internal lists, but they probably are not sharing. Companies such as IHS or Drilling Info may have white papers on the trends.