Hey Oil Barons.......

[Storm the Field 5232]

25 minutes ago, Ted Dantzler said:

Thanks for the input, definitely looks like we should be looking for more. My dad's going out there next week to talk to some neighbors etc to see if he can get any details of what is standard out there. For reference its 620 acres of pasture/cropland. 

Own the minerals on all 620?

[Rex Kramer 1087]

2 hours ago, Ted Dantzler said:

Thanks for the input, definitely looks like we should be looking for more. My dad's going out there next week to talk to some neighbors etc to see if he can get any details of what is standard out there. For reference its 620 acres of pasture/cropland. 

Comparing your offer to @Armybrat’s Bakken stuff is not productive because he’s been in a historically hot area and you are not. @billfromlaketravis20% seems odd. Maybe that’s just an average. 25% must be the standard in Weld Co.

My thoughts are:

1) 1/8th sounds like a 1920s lease. 1/4 is the standard for active areas. But you’re area is the antithesis of a hotbed of activity.

2) Same comment with $20/acre. 

3) For $12,400, I’d tactfully tell them to eat a bag of dicks. 

4) whatever you do, try and get a short term lease, and negotiate a tough surface agreement. This won’t be life changing money either way, don’t let them fuck up your land. 

[Armybrat 40454]

Well, the land our lease(s) is under is situated 50’ - 60’ below the surface of Lake Sakakawea and has been since the 1950s.

 

 

[Ted Dantzler 142]

Own the minerals on all 620?

Yes. We also have a windmill lease on our land, they ended up building the windmills a mile north and a mile south of our land so no actual windmills but they did bury a power line through our land next to the road. Since they didn't build any on our land they gave us an extra "good neighbor" bonus for having to look at them....I don't mind though. As far as I know the only condition is we can't build any structures over a certain height.

From looking at neighbors land some of them have windmills and oil wells on the same section so I don't think that would be an issue.

Token windmill sunset pic