Ward Williston RenvilleCounty in North Dakota.
Township 163 North, Range 86 West Section 25: SW 1/4 Section 26: W1/2NE1/4 Containing 240 acres >>> RioRico <[EMAIL PROTECTED]> 10/8/2008 4:40 PM >>> Yes that's the part where I said it could be costly. Someone else might call. I been working on a lease now for 2 months and awaiting a response from them after having my attorney look it over, and another called me this morning asking about the same area. I am not worried about the lease bonus I am negotiating the fractions and the number of years. If I may ask where are your mineral acres located. Township, range etc. and the company you are working with. RioRico On Oct 8, 7:09 am, "Allen S." <[EMAIL PROTECTED]> wrote: > Actually, the way I understand it is if they obtain enough mineral > acres in the spacing unit, they can and will drill. > > Since you have not signed a lease you will become a small interest > owner in the well by default. This has both positives and negatives. > > Positive: > Your "share" will be equivalent to the oil company's share based upon > the ratio of mineral acres you own. This would lead to much larger > checks than you would receive if you signed a lease for those same > acres. > > Negative: > You become a minority "owner" in the well. This means you are on the > hook for drilling and maintenance costs which may easily outweigh the > value of your share of produced oil for the first year or so. Heck, > the well may at the worst be dry! Then you are really at risk of > being on the hook for more than you earn. In all practicality I think > the majority owner just withholds oil revenue from you until the well > becomes profitable, but if your acreage is high enough it may make > drilling much less likely. > > On Oct 8, 7:45 am, "David Maahs" <[EMAIL PROTECTED]> wrote: > > > > > What if they find oil and I have not signed a Lease? > > What if they don't want mine, but I am into forced pooling? > > Do I get royalties or do I have to fight for them? > > > >>> go-devil <[EMAIL PROTECTED]> 10/7/2008 9:54 PM >>> > > > It depends, if they want yours they will call back. > > You get royalties upon signing a lease and after oil is found. > > > On Oct 7, 7:47 am, wernie <[EMAIL PROTECTED]> wrote: > > > > I had been in communication with an Oil Company regarding Mineral > > > Rights in North Dakota, Renville County. > > > Things moved along, I was given the NET mineral acres. Then abruptly > > > they said they could not meet my terms. I said I would negotiate. But > > > have heard nothing. Should I expect that this means they are no longer > > > interested? The Oil Company is still going to seek a percentage of > > > Leases. If Oil is found, do I still get royalty payments? > > > Wernie > > > ********************************************************** > > Electronic Mail is not secure, may not be read every day, and should not be > > used for urgent or sensitive issues- Hide quoted text - > > - Show quoted text - ********************************************************** Electronic Mail is not secure, may not be read every day, and should not be used for urgent or sensitive issues --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Bakken Shale Discussion" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/bakken-shale-discussion?hl=en -~----------~----~----~----~------~----~------~--~---
