We own rights in Township 9N, range 63W that are currently leased to Noble. However, the lease expires toward the end of this year, and would like to know what to expect for bonus and royalties if we re-lease it at that time. We have 50% ownership of 320 acres. Thanks in advance.
DKW,
I know that minerals are being leased in 8N-61W for $3000/NMA and 20% royalty. There is a lot more activity going on in 8N-61W and 9N-63W is in the Pawnee National Grassland so any operator that drills there may have to do an Environmental Assessment with the BLM (similar to what Noble did for their East Pony project in 9N-59W. This may affect the current demand to lease in this Township vs. other areas that are still open that wouldn't require as rigorous federal environmental reviews.
I hope this helps.
Thanks,
Matt Sands
Minerals Management
Tremendous help. Thanks a bunch, Matt.
Hi Matt,
We recently inherited 2 interests in 8N-61W and our offer isn’t close to $3000/NMA or 20%. Do you mind sharing the company? Ours is section 2 if that makes a different. We also have several interests in 7N, 59W; 2N, 63W; and 6N, 61W. Thanks for any help!