Mineral Rights Offer

North Dakota Mineral Rights Divide County, ND
1

My family owns the mineral rights to 1/8 of a quarter of a section (20 acres total) in Township 160N, Range 130W. We’ve been approached with an offer to purchase the mineral rights for $1375/acre. Im curious about a few things:

  • There seems to be activity in other nearby sections. There are no producing wells in 103W, but 102W appears to have 20+ producing wells. Is anyone familiar with the area who might know?
  • I’m curious if there are other right holders in 103W that might have been contacted too?
  • Is the offer price in line with current market rates? Im told by a few locals that this is a small offer given the nearby activity.

Appreciate thoughts, suggestions and examples! Thanks for all the great info here!

2

If you are on the east side of the township, there are new three section horizontal wells by Koda Resources. The leasing is moving ahead of the rigs. If it were me, I would rather lease than sell.

3

Thanks @M_Barnes! I’ve seen those wells you mentioned, and we’re a bit to the north and west of them. I also see a large operation in T106 102W thats a bit more established. Given that, Im assuming the movement for development is toward the West in this township.

I really appreciate your insight. It does seem that holding is a good move.