ND Lease Rates - Williams County

Oil and Gas Leasing Help
1

I am trying to find out information about current lease rates 158-96-34.
Received $600 in 2017 @ .1875 for 3+2 year. (Now expired) Offered 2024 - 3 year, $400 per @ .20.

ND mineral auction in 2019 was 5 year, $633 @ .1875.
ND mineral auction for all in 158-96 is around $1,500 (range $35-$6,200). Area in general, everything is held by production with the exception of 4-1280s.

Any help or advice would be great.

2

Lease rates are generally lower in 2024 than 2017. Based upon competition. Depends also on the royalty rate being offered. I prefer a higher royalty and a lower bonus.

3

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