We have received an offer to buy our mineral rights in Montrail county. Has anyone heard of Vintage Oil & Gas? Marathon oil has not provided any royalty payments for the last two months. When contacting Marathon, they said there is plans to add more wells but the time frame for producing is 10 to 18 months.
Any advice is appreciated.
Any time I get an offer to buy my minerals, I always ask myself, “What do they know that I don’t know?” as I am pretty sure the buyer hopes to make a profit off of me. Some buyers are flippers, some buyers hold and drill, some use the minerals rights for trades into deals. There is a Vintage Oil & Gas with offices in Fort Worth and Williston.
Check your Division Order. You may have a minimum payment amount of $100 so royalties have to build up until they reach that amount. You can change that to a lower amount such as $25.
Last year’s drop in demand due to Covid and the price drop caused a pause in many parts of the oil patch. Companies are cautiously ramping back up in areas that make economic sense. There are quite a few new permits in the western half of Mountrail in the last 12 months
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