I have been contacted about top leasing for acreage just west of Plentywood. Rates quoted seem a little low at this point. The current lease expires in March 2013.
Larry:
Can you provide additional information as to the location of the mineral acres (Township/Range/Section). I might be able to provide some info as the average bonnus/acre if I knew this. I have acreage in a section to the South which borders Roosevelt County but I leased that back in early 2009 so my figures would not help. I have been contacted by Marathon Oil Company in regards to their intentions on developing that area. They have our area temp. spaced and per Marathon, drilling should beging in early 2012 for this area. It appears that these companies are scheduling drilling programs based on lease expiration dates, which really makes sense.
I'm getting 175 an acre for 3yrs with 2yr option at 200 an acre.. but this contract was signed back in July and I'm still waiting cause the company is putting no effort in to finding the third owner to sign...(a great aunt or her daughter..I'm being made to find her in order to get paid) I'm close to you also...I'm in outlook... They didn't inform me that they hadn't found her until I called wounder why I had not received my payment yet...She said that all left to do was verify the deed..Not having a 3rd party is a big deal! but this for Campbell's oil though..not Marathon. So just thought I give you something to com-pair your offer to.. and remember if they are a bigger and more efficient in getting out their to drill it will be worth more the any balloon payment to end up with a working royalty that gives a monthly check..
I would like to find a company leasing in the Outlook area. If you have any suggestions I would appreciate it. Also, what the going price is. Thank You, Cindy
In which Township and Range is your property? I am not familiar with the location of the Outlook area. We recently signed a lease covering our Sheridan County mineral acres for $550/month bonus for 3 years with 19% royalty, with 2 year option at $600/acre bonus.
Empire Oil Company in Willilston has some leases in the Outlook area. They represent Shakespeare Oil. My family ;eased to them 3 years ago at $ 55 and then they offered a top lease last fall for $ 400 and 16% with $ 80 per acre up front. They are quite good at keeping thie promises and payng on time. Our 1/2 section is 35N 54E S28. A well was drilled west of plentywood and douoth of Outlook this past winter and all we can find out so far is that they had a show of oil. This in 35n 53E S 18.
John
Which Township and range were your rights in.
my dad has been approached , again. We have various pieces all over the county, since the 70's. He's elderly and needs all the good info i get secure for him.
ty
john w Rowland said:
In which Township and Range is your property? I am not familiar with the location of the Outlook area. We recently signed a lease covering our Sheridan County mineral acres for $550/month bonus for 3 years with 19% royalty, with 2 year option at $600/acre bonus.
T34-52, T34-53, T34-54,T34-55,
T33-52,T33-55,T33-57
T32-54,T32-55
T35-56,T35-58
T36-56,T37-58
Your feedback is greatly appreciated.
Any way to figure out particular activity in these given areas?
thanks
Dave
Dave (Daniels/Shridan County) said:
John
Which Township and range were your rights in.
my dad has been approached , again. We have various pieces all over the county, since the 70's. He's elderly and needs all the good info i get secure for him.
ty
john w Rowland said:In which Township and Range is your property? I am not familiar with the location of the Outlook area. We recently signed a lease covering our Sheridan County mineral acres for $550/month bonus for 3 years with 19% royalty, with 2 year option at $600/acre bonus.