I’m a new mineral rights owner of several acres in Divide County, ND. My father died and left them to me. My family homesteaded in Divide County and through many deaths and divisions, I’ve come to own 9 acres of mineral rights in a quarter of a section in the county. It’s very confusing. There is a Landman who is trying to broker a deal. What I don’t understand is everything. Please suggest some specific resources. I’ve searched the internet and found lots of information, but it’s all very confusing. If I own 9 acres of a 160 acre resource, how does that work? What influence/leverage/common purpose do the other 151 acre mineral rights owners have to me and the oil company? Any basic information and suggestions would be appreciated. Obviously there are people representing the oil companies. Is there such a thing as someone representing the owners? I’d think there would be a fiduciary who I’d pay to represent me and my interests. Thoughts?
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Hi
one resource is here: NARO - National Association of Royalty Owners - North Dakota and
9 acres is a very small amount - depending on where in Divide County, it could be on the fringe of the Bakken Pool and value quite low. However there are producing wells in Divide County - my family also has minerals and one active pumping well. Hope you can lease and find oil!
Don, I see your name fairly regularly across this site. Thank you for the reply and suggestion!
Here is the ND DMR GIS Map: https://gis.dmr.nd.gov/
You can zoom in on your tract and find out more specifics on what production is around you.
The most common representation for mineral owners is by attorneys. They will negotiate and draft leases, ensure no defects in title, etc.
Re: other questions:
-you own 9 net acres on a fractionated 160 gross acre tract
-while there are certain standards that the oil company must uphold to all mineral owners, effectively each mineral owner is a separate negotiation
Here is one opinion that may be helpful: Own Mineral Rights? Watch Out For These Common Pitfalls
Does it seem to anyone else that ND has been a bit behind in updating that map. Koda has been busy poking holes in the ground in 160T 102R Fertile Valley. Some are very good wells (and long).
There is a publication (that I have not been able to locate the URL for) put out by ND that has all sorts of explanations. NORTH DAKOTA OIL & GAS LEASING CONSIDERATIONS, RON ANDERSON RESOURCE ECONOMIST , COOPERATIVE EXTENSION SERVICE
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