I hope someone here can help point me in the right direction. My great grandparents had a 400+ acre farm that was sold at some point but they retained the mineral rights after selling. These rights were split equally between their 5 children (my grandfather being one). About 10 years ago an oil company(not sure which one) began contacting the 5 owners and purchasing the mineral rights. Most of the owners were in their late 80s and probably sold without knowing the ture value. My grandfather was in Chemo at the time and my mother was handling the transaction. Long story short we did not sell our 20%. It has now been quitclaimed to my brother, uncle and I.
I am trying to figure out what if any value these mineral rights have and who the oil company is that owns the other 80% of the mineral rights. The legal description of our property is:
Township 162 North, Range 86 West
Section 34 SE 1/4
Section 23 SW 1/4
Section 23 SE 1/4
If anyone could point me in the right direction to find out what these rights are worth and/or who may own the other rights I would appreciate it.
Thanks in advance for any direction that you can provide. -JR
Mr. Rostel, I looked at your property on the NDIC O&G site GIS server map and the area east of you is densely drilled with verticle wells some of which have done pretty well 180,000 to 200,000 + barrels. The nearest one in the NE part of T162 R86 S23 is a poor Madison formation well producing about 5,250 barrels of oil since 2008 and more than 10 barrels of water per barrel of oil in the same period. The well did little more than 1 barrel a day in February this year. Nobody knows what a particular well will do until they try to produce it, you may yet get a decent Madison well one day. I didn't see any long lateral wells even with the map filter set to 25 miles. I hope this gives you a better understanding. Murex Petroleum Corp. seems to be the major operator in the area.
Hi Jim,
I found this on the info that you give.
No API No Well Type Well Status Status Date DTD Location Operator Well Name Field
16865 3307501385 OG A 1/8/2008 5450 SENE 23-162-86 MUREX PETROLEUM CORPORATION JOSEPH FATE 1 MOUSE RIVER PARK
3403 3307500176 OG DRY 8/5/1963 5100 SWNW 23-162-86 NORTH AMERICAN ROYALTIES, INC. A. J. WHERLEY 1 WILDCAT
File No API No Well Type Well Status Status Date DTD Location Operator Well Name Field
13628 3307501259 OG DRY 11/29/1993 5248 NWSE 34-162-86 EDWARD MIKE DAVIS DAVIS-SPIELVOGEL 33-34 WILDCAT
you can go to this web site and check it out for your self.
https://www.dmr.nd.gov/oilgas/findwellsvw.asp
I hope this helps please let me know if there any thing eles I can help you with.
have a good day.
Ron Mayer
Thank you Ron,
I am not entirely sure how to interpret the data but it is a good start! I really appreciate your help as my learning curve is pretty steep right now.
I will dig into this and I am sure I will be back with plenty of questions :)
-Jim
My Mother has Mineral Rights close by. I have sent emails to many oil drillers/companies drilling in the Bakken.
she owns
Township 163 North, Range 86 West, 5th P.M
Section 25: SW 1/4
Section 26: W1/2NE 1/4
Containing 240 acres, more or less.
I had one interest but none other. There has been some dry wells in her area - but not drawing the attention of the counties West, South and a bit East. I live in Michigan -so not familiar with the area. Are you in ND?
Dave
Dave, there are verticle, Madison formation wells about 2 miles south, southeast and southwest of your section 26. The operator with the newest wells, those to the southwest is Flatirons Resources LLC, with their latest well completed in 2-2012. I would say that this is the company that has the most interest in the area.
David Maahs said:
My Mother has Mineral Rights close by. I have sent emails to many oil drillers/companies drilling in the Bakken.
she owns
Township 163 North, Range 86 West, 5th P.M
Section 25: SW 1/4
Section 26: W1/2NE 1/4
Containing 240 acres, more or less.
I had one interest but none other. There has been some dry wells in her area - but not drawing the attention of the counties West, South and a bit East. I live in Michigan -so not familiar with the area. Are you in ND?
Dave
Thank you R. W - seems you follow the area closely.
Dave