Accepted a lease for $2200 per acre, 20% in T154 R100 Sec7. Good Luck to all.
That is awesome news! Congratulations. Wish things would get moving with my little piece. T154N R101W Sec 12. It would be better yet if the lease ran out. I got $250. a mineral acre in 2009. Every day I learn a little more about this. Talk about complicated stuff! My best to you GP
Suzanne:
You are exactly correct in that you will be better off if the lease expires and you get a chance to re-lease for much more bonus money. I am in the same situation with my minerals in ND as I leased back in 2008 for $100/acre. My area has been temp. spaced but I don't look to be drilled on before the lease expires. There are alot of operators who leased back in 2008-2009 for little money per acre which is in the same boat. In these cases, the mineral owners are the lucky ones.
Suzanne Vohs said:
That is awesome news! Congratulations. Wish things would get moving with my little piece. T154N R101W Sec 12. It would be better yet if the lease ran out. I got $250. a mineral acre in 2009. Every day I learn a little more about this. Talk about complicated stuff! My best to you GP
Which company did you sign with if you don’t mind sharing. I just got the paperwork but haven’t signed on our small parcel… I have a thread titled " XTO/Bakken offer." I have just emailed to negotiate a better offer. Thank you all for your input.
Kristy:
In 2008, we originally leased our minerals to Empire Oil Company, who operates as a broker. They then leased the minerals to G-3 Operating Co., who currently has the area temp. spaced and is currently drilling in the Township. I would advise anyone to shop around for the best lease terms (bonus/%royalty) and never take the first offer. Good luck in your leasing!
kristy katz said:
Which company did you sign with if you don't mind sharing. I just got the paperwork but haven't signed on our small parcel... I have a thread titled " XTO/Bakken offer." I have just emailed to negotiate a better offer. Thank you all for your input.
I just got my reply, bonus offered was tripled and royalites to 18%. I too will say NEVER TAKE FIRST OFFER!
I leased with Continental. Best of luck Kristy.
Hi. I’m new to this forum but am fortunate to have several small parcels of mineral acres here and there that we have been negotiating leases on over the past few years. Those bonus payments are awesome, but remember that the royalty percentage, in the long run is what is going to pay you the most money when production starts. Our last lease offers were only $1500 an acre a few months back and 20% royalty. What was the term of the lease, 3 or 5 years?
Well Wisher:
What area are you're minerals located in? I am just curious as you stated that you were offered $1500/acre and our minerals in ND will be expiring early next year. I just try to keep up with the going rates.
Well Wisher said:
Hi. I'm new to this forum but am fortunate to have several small parcels of mineral acres here and there that we have been negotiating leases on over the past few years. Those bonus payments are awesome, but remember that the royalty percentage, in the long run is what is going to pay you the most money when production starts. Our last lease offers were only $1500 an acre a few months back and 20% royalty. What was the term of the lease, 3 or 5 years?
The last ones were in
Wiliams county I think 155 N Range 99 W and some in 153 N Range 98 W.
We always sign a 3 year and always include a Pugh Clause too.
charles s mallory said:
Well Wisher:
What area are you're minerals located in? I am just curious as you stated that you were offered $1500/acre and our minerals in ND will be expiring early next year. I just try to keep up with the going rates.
Well Wisher said:Hi. I'm new to this forum but am fortunate to have several small parcels of mineral acres here and there that we have been negotiating leases on over the past few years. Those bonus payments are awesome, but remember that the royalty percentage, in the long run is what is going to pay you the most money when production starts. Our last lease offers were only $1500 an acre a few months back and 20% royalty. What was the term of the lease, 3 or 5 years?
Well Wisher:
Thanks, our minerals are located in T157N;R103N so this will give me an idea about the bonus/acre if we get a chance to sign a new lease. Yes, I am aware of the Pugh Clause will add this to any new leases in both ND and Montana. Good luck in your negotiations.
Well Wisher said:
The last ones were in
Wiliams county I think 155 N Range 99 W and some in 153 N Range 98 W.
We always sign a 3 year and always include a Pugh Clause too.
charles s mallory said:Well Wisher:
What area are you're minerals located in? I am just curious as you stated that you were offered $1500/acre and our minerals in ND will be expiring early next year. I just try to keep up with the going rates.
Well Wisher said:Hi. I'm new to this forum but am fortunate to have several small parcels of mineral acres here and there that we have been negotiating leases on over the past few years. Those bonus payments are awesome, but remember that the royalty percentage, in the long run is what is going to pay you the most money when production starts. Our last lease offers were only $1500 an acre a few months back and 20% royalty. What was the term of the lease, 3 or 5 years?