Looking for any one of info on the Continental well Strath (confidential status) which is in Divide County, ND. It is again Strath 1-27H-1, sections 27 & 34-162N-96W. Just received options to lease or participate and looking for any info or details on this area from you guys. Thanks~Pam
There’s some great production in the Crosby area.
Neither well has been spud yet. I wouldn't want to participate in those two wells based on the production in the area because it looks like they will be a long time paying out. Those acres have value, but it's over the long haul, when they figure out how to get more of the oil in place out, and they will, the value will increase. You could go non-consent just to keep your options open, sale of a working interest in later wells, something like that.
Only have .84 net mineral acres which is .00065 working interest which would cost about $5k to participate. I believe they are offering lease bonus of $1k per acre and 20% royalty. Thanks for your reply above.
Pam, the heaches of watching one acre are about the same as watching 100 acres or 10 different spacings with one acre. One acre isn't going to do a great deal no matter which way you go. the lease is the near term money, participate might be a little more long term.
Pam said:
Only have .84 net mineral acres which is .00065 working interest which would cost about $5k to participate. I believe they are offering lease bonus of $1k per acre and 20% royalty. Thanks for your reply above.