Depending on the specific location, offers to purchase mineral leases in the Bakken can run anywhere from $600 to $3,000. It would be a rare situation if the well on these leases did not produce royalty payments greater than this in the first year of production. BUT you have to wait until your spacing is drilled and then probably another 6 months before the first royalty check shows up in the mail.
These guys are the J.G. Wentworths of the oil business. They offer owners cash now in exachange for the uncertainty of getting a good well and the delay in getting the royalty checks. Sometimes, particularly with the elderly, the scam works, esp when you consider that a lot of the land (surface) in Dunn Co (in this case) is probably not worth $600 an acre). In reading the ongoing saga of Panther and Wil E Coyote here, (6 million down the hole, 62 days and counting and the driller just now turning the horizontal corner) there is also considerable uncertainty relating to WHO drills your well, and an EOG, Whiting, or Continental is in a different league from many of the smaller drillers just drilling their first Bakken wells. Unfortunately the mineral owner has basically no control over who ends upbeing the driller on your leases, and leases get traded all the time. On Oct 31, 1:24�am, page2 <[EMAIL PROTECTED]> wrote: > Has anyone received anything from Bridgepoint Mineral Acquisition > Fund. �They have been sending letters offering to ACQUIRE mineral > acres to elderly people in Dunn County. �One person showed me their > letter thinking the were dealing with a leasing company. �The Offer > was $600 per acre for 20 or more mineral /royalty acres. > > The mineral acres in question are in 11 147 �97. �I believe (this > comes from someone who also would have mineral acres in the 1280 > spacing unit) that Tracker is planning to drill a well there as they > just completed one across the road on 14 147 97 and that Continental > has a permit to drill on sec 12 147 97. �So I am wondering if there is > a third company now interested or Bridgepoint is just trying to buy up > minerals from unsuspecting elderly people that think �Bridgeport is > offering some kind of top lease as the lease runs out in 2010. > > As always, thanks in advance, and for all previous information. --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
