Does anyone know of any oil companies besides Continental offering oil leases in or around Township 21N Range 57E Section 6?
The only one I'm familiar with is XTO.
Our family's lease of 160 acres with XTO expired on 1-18-2013 for T 22N R 60E, Sec 5 sw 1/4. I spoke with a representative of Bakken Oil LLC who did the previous lease. He indicated that it was his impression that XTO was pulling out of the Sidney, MT area. He checked with XTO and he indicated that they were not interested at this time. We have had two successful wells on the property in the past and they collapsed the casing on the second one, (trying to extract the oil too quickly, we belieive), so we know we have oil down there, but the bigger interest in accross the board in ND.
Robert, IF you don't mind my asking, did you subsequently lease your mineral rights on T22N R 60E? Is that typical to have leases expire and not be released in Richland county? Ours at T 22N R 54 Sec 22 is expiring this spring; so I am wondering whether that is common to have leases expire and not be released by an oil company.
Robert Carleton said:
Our family's lease of 160 acres with XTO expired on 1-18-2013 for T 22N R 60E, Sec 5 sw 1/4. I spoke with a representative of Bakken Oil LLC who did the previous lease. He indicated that it was his impression that XTO was pulling out of the Sidney, MT area. He checked with XTO and he indicated that they were not interested at this time. We have had two successful wells on the property in the past and they collapsed the casing on the second one, (trying to extract the oil too quickly, we belieive), so we know we have oil down there, but the bigger interest in accross the board in ND.
Harvey:
We have been unable to find anyone who wishes to lease the property as of this point in time (12-23-13). I am curious, what you are referring to when you use the phrases "not released in Richland County" and "not be released by an oil company"? I am not sure what you mean by those phrases.
I think they mean leased again.
Robert Carleton said:
Harvey:
We have been unable to find anyone who wishes to lease the property as of this point in time (12-23-13). I am curious, what you are referring to when you use the phrases "not released in Richland County" and "not be released by an oil company"? I am not sure what you mean by those phrases.
Robert,
Sorry for the confusion. I meant, "not re-leased" or "not leased again". I am surprised to see that you were unable to find any oil company interested in leasing the property. Based on what I had read to this point, I would have thought that the leases were typically renewed in Richland county. Have you heard of many others in your position of not renewing the lease or leasing to another company? I am wondering why it wasn't leased by another company. If I am reading the map correctly, our property is not far from yours. Thank you for sharing your experience as it gives us a better idea of what to expect this spring.
Harvey