I received an offer to lease my mineral rights out in Billings county. Township 141N R99 section .
Does anyone know what thay are paying on average for a bonus as well as royaltys. I was offerred 800 plus 16%. Is that a fair price?
Hi Michael,
My family has land in Billings, 139N, R100. We signed almost a year ago for $700 per/acre, for three years. The royalty was at 18.75%. I think at this point you can do much better all around. We were offered $1000. per/acre a month after we signed the lease. So I think you can get $1200-$1500 with a royalty of 18.75.
My family holds interests in T137 R100. We were recently offered $600/nma bonus and 1/6 th royalty and trying to decide whether that is a fair offer.
I just recieved a lease for 1000 acre with 18.75% with a 3 year lease. 2 months my cousins were offered 800 with 16% for a 5 year lease. I think I’ll take it.
Michael, did you complete your lease in 141 100?
I received an offer in 136 100 in Slope County at $400 & 1/6. Going to pass for now.
Does anyone know anything about Diamond Resources Inc.? I just received an offer over the phone and from what everyone is saying it is a good offer. I’m waiting to receive the written offer before I post it as a true offer.
Kyle, I've had dealings with Diamond Resources, I'd say if you don't live on the property that you should look at the NDIC GIS server map to see if there is already a well. Diamond won't tell you if there is already a well drilled. I also suggest that if you deal with Diamond that you keep every scrap of correspondence and don't negotiate on the phone. I also hope you have an up to date claim, filed of record in the county in which your minerals lie. I didn't lease with Diamond but they tried to gain control of my property anyway. I have to sue them now. I recommend you do the above and be wary.
Kyle Bell said:
Does anyone know anything about Diamond Resources Inc.? I just received an offer over the phone and from what everyone is saying it is a good offer. I'm waiting to receive the written offer before I post it as a true offer.
Thanks rw, I will follow your advise.
r w kennedy said:
Kyle, I’ve had dealings with Diamond Resources, I’d say if you don’t live on the property that you should look at the NDIC GIS server map to see if there is already a well. Diamond won’t tell you if there is already a well drilled. I also suggest that if you deal with Diamond that you keep every scrap of correspondence and don’t negotiate on the phone. I also hope you have an up to date claim, filed of record in the county in which your minerals lie. I didn’t lease with Diamond but they tried to gain control of my property anyway. I have to sue them now. I recommend you do the above and be wary.
Kyle Bell said:Does anyone know anything about Diamond Resources Inc.? I just received an offer over the phone and from what everyone is saying it is a good offer. I’m waiting to receive the written offer before I post it as a true offer.
I did. I received 100/acre and 18.75%
Allen Tunstill Cowden said:
Michael, did you complete your lease in 141 100?
I received an offer in 136 100 in Slope County at $400 & 1/6. Going to pass for now.
Michael
My family owns in 142 - 100, we were offered $2000.00 at 21%.
Michael - add to the latest threas if you haven’t already.