I got an offer in Township 24 north range 52 east of the M.P.M. section 4: lots 1,2,3,4 for 16 percent, 5 years, and $100 an acre. This will be my first time signing a lease but the previous offer was much higher. I’m looking for 20 percent, 3 years, 1000 an acre.
It’s the edge of the play so you may not get such a jump in bonus, but better to focus on higher royalty, especially if they’re going to drill one or two wells and hold the lease like most of these other sections. Diamond usually leases for / assigns to Continental so good sign generally speaking, might even shop it around.
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Would this be a new well? or is it one of the existing ones I have? They are looking at 8.50 acres.
There doesn’t appear to be any wells on this tract…if you have existing production those are probably already leased. Just google montana / north dakota non-operated oil companies. You can also go here: GIS, and click around for nearby operators…looks like
Continental Resources, Inc.
Slawson Exploration Company Inc.
White Rock Oil & Gas, LLC
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