We have been under lease for several years on various sections in 161N 101W, and 102W, and in 162N, 102W. don't know if there's a designated field for these leases. I wonder if anyone has any knowledge and/or ideas on potential for these areas. Thanks.
Bill,
Most of the activity is in 101 where smaller companies are getting horizontal well permits on 1280 acre spacing. A limited amount of recorded leases show up in NE 162-102 and very little activity in 161-102.
Near term potential will depend on the success of the newly permitted wells IF any of them get drilled during the permit time.
Long term geologic potential is quite good as the Bakken zones and Three Forks are known to exist. This area is west of the major deep fault zone and the oil may be less mature than the deposits under development in the eastern part of the conty. Shallower structural zones may be hit occasionally but they will be very limited.
Be patient and selective about renew ing leases and if you have over 1000 net mineral acres you may be able to get a long term special deal with the majors for good near term income. I don't anticipate large production development in the area for the next 7-10 years.
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not sure, but they might have drilled and not paid you yet..