Hey RW long time... all wells seem down a little but it is the time of hope and change... give me a pipeline ... please hahaha
r w kennedy said:
I am glad to hear that. I hope your other wells are doing fine.
B Volney said:
Greetings all...... we recently received a "top Lease" offer from Diamond Resources for 30N 58E section 27 $1,000.00 an acre. As our family NEVER does top lease, its garbage fodder. However it is good to know that interest prevails..... It is Montana's time to shine Brian...
i'm just glad to see seemingly renewed interest in the area.... Drill Baby Drill.... it works for all of us...
charles s mallory said:
B Volney:
I have received the same offer from Diamond Resources for our areas in T30N;R58 & 59E. This was a top lease offer, same as yours. Our minerals are very to expiration. I expect to negotiate in the next couple of months and as you stated, this area of MT may be in the spotlight over the next couple of years. Not for sure, but my guess is that numerous mineral owners in this area has leases either expired or about to expire.
Actually, Diamond contacted me twice about my expiring acreage in Roosevelt. Landman stated that they were leasing for Continental Resources and that Continental was interested in developing the area North of where they are currently drilling. Looking at the GIS map, lots of undrilled acreage near the ND border in Roosevelt. This area will eventually see some serious development. I feel that most mineral owners in the area are in the lease renewal phase.
B Volney said:
i'm just glad to see seemingly renewed interest in the area.... Drill Baby Drill.... it works for all of us...
charles s mallory said:
B Volney:
I have received the same offer from Diamond Resources for our areas in T30N;R58 & 59E. This was a top lease offer, same as yours. Our minerals are very to expiration. I expect to negotiate in the next couple of months and as you stated, this area of MT may be in the spotlight over the next couple of years. Not for sure, but my guess is that numerous mineral owners in this area has leases either expired or about to expire.
Charles do not let continental low ball you, I just had an offer last week for $1700.00/acre from Bakken oil
Todd Graber
Todd:
Thanks for the heads up on Continental. Where were these minerals located? Is Bakken Oil leasing for someone else or themselves? If you were offered $1700, the Continental offers, which are first offers, are definately "low" ones. Keep me informed and I will "friend" you this morning.
Todd Andrew Graber said:
Charles do not let continental low ball you, I just had an offer last week for $1700.00/acre from Bakken oil
Todd Graber
Who was the landman you dealt with? Would like to contact him. We are T29NR57E Section 1 and T30NR58E, Section 31. Leases for the Bakken expired in Feb. and would like to re-lease. Thanks. This is good news that there is still interest. Should we be negotiating for $1000 or the $1700 that was mentioned. How long are these leases and what are the percentages?
B Volney said:
i'm just glad to see seemingly renewed interest in the area.... Drill Baby Drill.... it works for all of us...
charles s mallory said:
B Volney:
I have received the same offer from Diamond Resources for our areas in T30N;R58 & 59E. This was a top lease offer, same as yours. Our minerals are very to expiration. I expect to negotiate in the next couple of months and as you stated, this area of MT may be in the spotlight over the next couple of years. Not for sure, but my guess is that numerous mineral owners in this area has leases either expired or about to expire.
I would not be leasing for anything else less then the 1700/acre and a 3 year lease and 20%
also it was a gal that I am dealing with by the name of cory and she is with bakken oil
Todd
I have never heard of "Bakken Oil Co." only companies who are leasing on their behalf. Where is Bakken Oil's headquarters?
Todd Andrew Graber said:
I would not be leasing for anything else less then the 1700/acre and a 3 year lease and 20%
also it was a gal that I am dealing with by the name of cory and she is with bakken oil
Todd
Linda:
Todd may be referring to a company named Bakken Oil LLC. This is a broker type company who leases for operators. In regards to your negotiations, I know that operators watch the location of your minerals, specifically, on which side of the Brockton/Froid fault. If you will go to the home page on this forum, you will find a box at the top where you can google "Brockton/Froid" fault and view numerous posts on this subject. If I remember correctly, areas East of this line are being targeted.
Thanks I appreciate it and will check it out. Do you have any names of contacts for leases with any of these companies.
Linda:
Sorry, I can't help you with any specific contacts. Best thing to do at this point is virtually sit and wait. Interested operators have boots on the ground researching records on a daily basis. I am slowly nearing the situation but I've been leasing minerals in both MT and ND since 2004 and know how this game works. You should be fine in getting a new lease but it could be several months down the road or it could be this week. Just hope you get a lease with an operator who intends to drill and not one that is looking to flip for another deal. This business will drive you crazy!! Ha!!
Linda Kay Hudak said:
Thanks I appreciate it and will check it out. Do you have any names of contacts for leases with any of these companies.
Linda, if you have minerals in Montana, it would be well worth your time to become familliar with the Montana DNR site. The Web Mapper alone is a wealth of information the like of which I have to have a subscription and pay for in ND. From the Web Mapper you can view activity near your legal description/s the companies involved, production of wells, formation/s produced and so forth. You can Google the companies for contact information.
Yes, I do use the DNR site frequently. Appreciate your quick replies. I did check out the Fault you referred to. Thanks again.
r w kennedy said:
Linda, if you have minerals in Montana, it would be well worth your time to become familliar with the Montana DNR site. The Web Mapper alone is a wealth of information the like of which I have to have a subscription and pay for in ND. From the Web Mapper you can view activity near your legal description/s the companies involved, production of wells, formation/s produced and so forth. You can Google the companies for contact information.
Linda:
Looking at the GIS map, it appears that Oasis drilled a well in your T30N;R58E;Sec 31. The well was targeting the Ratcliffe Formation. Are you held by production in this area? Your area is just a few miles SW of ours. Looks like Continental has a permit to drill just South of your T29N;R57E;Sec 1 area. Again, you should be fine in regards to getting a new lease by the timeline is the big question. I think there will be some serious testing of the Bakken/Three Forks in and around this area over the next few years.
We do have a working well but we included the Pugh clause on that lease so are good to go from 100 feet below the Ratcliffe for a new lease. Again so appreciate your responses. Will stay in touch for sure.
Pugh clauses are worth their weight in gold. Hope you get that new lease very soon. Also, post any news as it helps all of us who have minerals in the area.
Linda Kay Hudak said:
We do have a working well but we included the Pugh clause on that lease so are good to go from 100 feet below the Ratcliffe for a new lease. Again so appreciate your responses. Will stay in touch for sure.
Except in ND where the Bakken, Three Forks, Lodgepole and the drip of oil under someones car can all be considered a common source of supply which defeats all but the most ingenius depth clauses.
charles s mallory said:
Pugh clauses are worth their weight in gold. Hope you get that new lease very soon. Also, post any news as it helps all of us who have minerals in the area.
We were just offered a lease at $1000, 3 yrs, 20% for T29N R57E Section 1 - is this currently the going rate for leases for the Bakken? Also does anyone have any language in their lease for a Pugh Clause to the Bakken?
Linda Kay:
I can offer some information around that area but it would be better if I "friend" you and we can discuss the matter further.
Would appreciate any insight you might have