People: I am new as well to this forum; but I do have some information. Having inherited mineral rights in Montana, the best thing one can do is probate the will if they were left in that manner. The affidavit of heirship was not a valid vehicle for us. We used Ken
Hoversland as I recall; one can google him. (I am at home and all my info is at the office. ) Ken is personable, reachable AND reasonable. Anyone have any updates? I spoke with Shale Exploration in Scobey this morning ...$150 and one-eighth royalty; US
Energy Corp sent leases for $60 and 15%. Both companies have active web sites. I'm reminded of SDC Montana, who last year who was offering $150 and 15% and disappeared into the night. My problem is....I can't tell who is on the level. Andy Grove, former Chairman of INTEL always said ,"only the paranoid survive." In the most recent lease auctions conducted by the
State,
Daniels County leases went for $76, $105, and $125 per acre. I do not live in the county so I have no face to face opportunities. If anyone has anr recent , relevant info I would be happy to hear it.
Hello. Paranoid is probably a good description of how I’m feeling…besides ignorant. I just received a lease offer for $150/acre and 1/8 royalty. This is from a company based out of Boerne, TX, Bedrock Oil & Gas, LLC, according to their letter head. This is admittedly a small group of people…I’m not sure what the risks are if they’re not on the level. We definitely will need legal help. Any cautions would be greatly appreciated.
Holly: I would be suspect of anyone offering $150 in a $25-$50 dollar market. SDC Montana did that 2 years ago and disappeared; I spoke with a rep from another company in the area weeks ago offering the same terms and they have yet to send a lease. Someone earlier mentioned DJ Resources--it is my opinion they are working with a client who is genuinely accumulating acreage in Daniels County. I can give you the rep's phone # if you are interested. As I mentioned earlier, Ken Hoversland is an attorney in Scobey who has been helpful for me and you may want to contact him.
Thank you Seward. I received a lease two days ago. I definitely would not be able to sign it “as is”. I just don’t understand what the incentive would be if they’re not on the level. I know we do not want to warrant title. I haven’t done enough homework to make intelligent decisions. I thank you for Ken’s name. I also noticed a Fosland mentioned in another post. So, I’m very much appreciating the input. In the cover letter they also stated they would send a check. I said I did not want a bank-draft. I am hoping everything is on the up and up. I will continue to consider any advice offered, and I would like the rep’s # that you mentioned. Glad to know you’re out there. Thanks, again.
RE: Daniels CO-34N-44E Sec. 7 & 8:
My family has 30 acres+/- in this area and just received an offer from Shale Exploration, LLC for:
$150/acre, Paid Up Lease, 1/8 Royalty, 5 yrs + 5 yr option.
Is 1/8 Royalty and 5yr +5yr option the going rate?
We get 3/16th, 3yr in ND & OK. Thanks for any input.
We got the same offer and we're not taking it, I think we can do better, when the first hole gets poked in the ground and black stuff comes boiling out, the price will raise significantly. They also offered a bank draft which is not real money until they fund it.
Good Luck
Louise Tario said:
RE: Daniels CO-34N-44E Sec. 7 & 8:
My family has 30 acres+/- in this area and just received an offer from Shale Exploration, LLC for:
$150/acre, Paid Up Lease, 1/8 Royalty, 5 yrs + 5 yr option.
Is 1/8 Royalty and 5yr +5yr option the going rate?
We get 3/16th, 3yr in ND & OK. Thanks for any input.