We are nearing lease renewal time and looking for bonus rate and term info in T 23N 53E and T24N 52E. We have one whole section and 100 net mineral acres in another. There are wells or permitted activity on all of the adjacent sections. We were offered $500/acre - verbally. Does anyone have rates they are willing to share? Is anyone in our area dealing with anyone besides Slawson or Continental Resources?
Also, one of our operators has a permitted well but has not been able to negotiate access to the section. Does anyone have experience with that?
About 2 years ago Our Baker Mineral Trust leased 70 Richland County Mineral acres in T22-R56 to Slawson/Transcontinental for $400 an acre and 9 months later another 100 acres for $500 per acre. Two years ago we also leased acreage in T24-R59 to Petro-Hunt for $400 an acre. There is a lot more drilling activity now, so I would think you should get at least double the bonuses we got. Bill Rowland
Thanks John, we were thinking that full section should bring more than $500 but the brokers trying to lease it will tell you that's unheard of. The Northeast Montanan Land and Mineral Owners' Association newsletter reported lease rates in Richland Co as "$500-$2500/acre" but we haven't heard from anyone who is currently their minerals. Are your sections being drilled?
If I am right, my property is not far from you and the lease will be up in Mar '14. Generally, Continental seems to be the main actor in the area with frack wells SW and NE, a couple inactive wells, not withstanding. The area seems to be on the SW fringe of viable activity in the area. I am told to be patient, indicating lease renewal or drilling perhaps this year. I am looking for further information. It seems to me that drillers are playing chicken, waiting for the results of others in order to de-risk their capital expenditures, especially since the Montana Bakken is more speculative than North Dakota.
greetings, I am an independent land man in Sidney, MT if you can give me the section in 23-53 I can give you a value of a lease and might even be able to get a few companies in a bidding war
Hi Kaleb - we are in Sec 5 (all) but as we hoped, Continental solved some access issues this past week and we are getting a pad site built. Complicated situation. We are relieved to have drilling activity instead of just a lease. But thanks for your inquiry.
the Wells have been pretty good so hopefully they hit a barn burner for you
Linda Crofts said:
Hi Kaleb - we are in Sec 5 (all) but as we hoped, Continental solved some access issues this past week and we are getting a pad site built. Complicated situation. We are relieved to have drilling activity instead of just a lease. But thanks for your inquiry.
Hi Kaleb. I recently acquired a share of my fathers mineral rights which I believe were a 1/10th share on these 3 wells:
Vaira 24x-19 and Storm 24x-19, both located at 19-24N-55E, and WCA Foundation 21x-18 located in 18-24n-55e in Richland County. My dad had these for years with the "Storm" well being completed in 2010. What is the activity there?