We are in the 161 Township, Range 93 and 94. Aquire and Lone Tree are wanting only to lease one section in one range for now. They are wanting 5 years, low % and only $100-$200 an acre. I want to wait, oil is low, it’s winter, and I want 3 years, 20%, and more per acre. We’ve been with Diamond Resources/Continental before and received what we wanted ($800 an acre). My relatives are concerned about pooling, and that we’re going to miss out, blah blah, blah… I say we wait. We wait for a better company, better terms on lease, etc. Hess oil had told me once that we were down for 2 wells when the time comes. I’m sure that’s why companies only want to lease one of our sections. How do I calm down some of these older relatives to not sign with these first companies! Oil is $46 today! Ugh! Thank you for any info!
There is zero harm in waiting at this point. They cannot force pool and non-consent into wells without first sending you an offer to lease. Accordingly, unless there are imminent wells being drilled and have been given an opportunity to lease by the operator, no point rushing if you think you can do better down the road.
You might remind them of all the times we jump at the chance only to have neighbors say “I waited them out and got twice that” I’m having same negotiations in McKenzie. I’m not going for any less than 20%. The companies are trying to go backward when things aren’t favorable. Good luck!
Hi Beth, I am in the same boat in the same area. We are in T161- R94- S30. We have Liberty Resources trying to lease our family’s mineral acres. I am waiting for the lease papers to arrive in the mail. I am thinking of hiring a land man in Williston to help me understand all of the ins and outs of leasing. Wish me luck
Hi RStevens, Yes, we had Liberty Resources contact us via Aqyre sending leases and calling us. There are lots of landmen out there, but please be careful as some are not so honest, sadly. Most landmen work for a company that then writes the leases for the oil drilling company. We’re waiting as a family for better leases, better terms, our terms. Best of luck, and read read read about what you would want on your lease and what is needed and best for you, not what is best for the company.
I have mineral rights 162- 91 section 7. Anyone hear of anything going on around there? Thanks
There was some leasing in 7-162N-91W in 2017. Petro Harvestor Williston Holdings LLC was the lessee. No new permits thus far. I see one producing well Berg 6-7 by Condor Petroleum.
Where can i find Data like this. Producing wells, leases ect. Thanks
Hi Casey, This the website that I use when looking for wells, drilling activity and such. It is run by the state of ND. https://www.dmr.nd.gov/oilgas/ Hope this helps.
Thank you very much!
https://www.dmr.nd.gov/oilgas/mprindex.asp production https://www.dmr.nd.gov/OaGIMS/viewer.htm what’s where
Thank you so much for this link. It will be very useful.
Hello again everyone, Another question as we as a family have been approached by a leasing company called Border Resources whom is writing for Lincoln Energy. I haven’t heard of either one before. Looked them up and they do have websites. Not the best offer yet, and they say they can’t do anything under 5 yr combo of years to tie up our leases! Anyone know anything of these two companies? I think Lincoln is new to the area in ND by what I found.