tyler

Ironton, OH

#65 Dec 15, 2008
what the hell we git screwd fore ower taxes every year it n

Since: Jul 08

Denver, CO

#66 Dec 15, 2008
tyler wrote:
what the hell we git screwd fore ower taxes every year it n
What hillbilly??? Speak english
Liz

Bothell, WA

#67 Jan 4, 2009
My family has 160 acres in Roosevelt County, MT, by Empire Oil Company. We're being offered $50/acre for a 5 year lease and 15% royalty. Your thoughts, Big Fish? Is this a reasonable offer by a reputable company? Thanks for all your comments here.
The Big Fish

Bozeman, MT

#68 Jan 4, 2009
Liz wrote:
My family has 160 acres in Roosevelt County, MT, by Empire Oil Company. We're being offered $50/acre for a 5 year lease and 15% royalty. Your thoughts, Big Fish? Is this a reasonable offer by a reputable company? Thanks for all your comments here.
Well considering the energy enviroment right now i would take this offer seriously. Although i think you said they are offering 1/6 bbl royalty, i would ask for 1/5 if you can get it or even 1/4. I would also consider taking less money to get more royalty. From what i know about these guys, they are simply building a acreage position and will flip it to someone with some money to do the work but there is nothing wrong with that. I would counter offer 1/5 royalty and $25/acre instead and see if they take it.
The Big Fish

Bozeman, MT

#69 Jan 4, 2009
Oil industry outlook

Right now most of you know that the oil industry in Nodak and montana has shut down for the most part. Right now companies are still drilling but drilling up open leases. Another words finshing up projects that were started when oil was high and not yet completed. Once these projects are finished in the first and second quarters of the year, I believe that the oil industry will slow down even more, unless there is a terriorist attack and it maintains the oil price above $75/bbl. Right now most oil traders are looking for an oil price of $50-60 per bbl for the first quarter and a high of $75 for the second and third quarters of the year. I believe that this will be true and until the price gets above $75 per bbl and is stays up there that the oil industry in north dakota will be slow. Since North Dakota has such a discount to the rest of the country on oil prices, Most Oil Producers will need a $75 price to make money on most North Dakota Bakken wells. I believe that the Parshal area will keep going and at a slower pace but will continue as long as the wells keep coming in. So i guess right now as a mineral rights owner, i would hunker down and wait for 2010 and i think oil will be much higher then.....
The Big Fish

Bozeman, MT

#70 Jan 6, 2009
Liz wrote:
My family has 160 acres in Roosevelt County, MT, by Empire Oil Company. We're being offered $50/acre for a 5 year lease and 15% royalty. Your thoughts, Big Fish? Is this a reasonable offer by a reputable company? Thanks for all your comments here.
I guess my answer to your original question is, i never dealt with empire so i dont know them but look at the thread here and the thread under "oil leasing and drilling actvity around mckenzie county area" in the North Dakota Forum
Liz

Bothell, WA

#71 Jan 7, 2009
I just learned that Empire Oil is collecting these leases for a company called Nisku. Any information on them? Thanks.
The Big Fish

Bozeman, MT

#72 Jan 7, 2009
Liz wrote:
I just learned that Empire Oil is collecting these leases for a company called Nisku. Any information on them? Thanks.
No never heard of them but it sounds canadian....

Since i havent heard of them i doubt they would have a lot of money to go out and drill up a lot of leases...sounds like this nisku will flip it to someone with some money.....again. I would look at previous posts regarding Empire since i seem to recall on that other thread that a lot of people didnt get their money thru empire....i would be very very cautious.
The Big Fish

Bozeman, MT

#73 Jan 7, 2009
Liz wrote:
I just learned that Empire Oil is collecting these leases for a company called Nisku. Any information on them? Thanks.
A lot of canadian companies will hire US companies to do their leg work for them since they dont know our laws and they may not be licesend to work in the US.

You also must consider if this Empire is reputable or not. If you sign a lease with them and they double cross you, YOu will not be able to lease to anyone else for about 60-90 days. Depending in the agreement they are trying to get you to sign. You see once you sign the papers, They usually dont have a check sitting in their briefcase ready to write so normally they will wait 30 days before they send a check, sometimes 45. Then That will tie your minerals up at the courthouse because any leases are regristered at the courthouse adn it takes time if the deal falls through for the system to right itself afterword.....Again read the posts here and in the Mckenzie county posts GOOD LUCK
The Big Fish

Bozeman, MT

#74 Jan 7, 2009
NOt only about the check but once you do sign the papers for the lease, then they are going to your neighbors place, if they cannot get all your neighbors to go along or if they are any holdouts and depending on how much acreage they are looking for and who else maybe leasing in the neighborhood then they may not pay up if they cannot get a certain percentage of minerals holders to sign within a certain peroid of time
The Big Fish

Bozeman, MT

#75 Jan 7, 2009
this lease terms were pretty standard when this boom took off, so the terms arent bad, i would just look at empire's reputation and increase the royalty if possible...Ask for 20%, 5 years, & $50 an acre if you can get it....if they say no , then come back with 20%, 5 years, & $30....if they say no to that then you guys will have to decide how bad you want a well.
Liz

Bothell, WA

#76 Jan 9, 2009
The Big Fish wrote:
<quoted text>
No never heard of them but it sounds canadian....
Since i havent heard of them i doubt they would have a lot of money to go out and drill up a lot of leases...sounds like this nisku will flip it to someone with some money.....again. I would look at previous posts regarding Empire since i seem to recall on that other thread that a lot of people didnt get their money thru empire....i would be very very cautious.
I did look at the other thread but didn't see a specific reference to Empire. Ca you tell what the date was or the post# or something. This is concerning. Thanks so much. Liz
Liz

Bothell, WA

#77 Jan 9, 2009
What do you think about a 5 year term for the lease? Also, the part about the lease automatically renewing if they are drilling at the end of the lease term? I thought we should get to renegotiate when it runs out. Thanks.

Since: Jul 08

Denver, CO

#78 Jan 9, 2009
Liz wrote:
What do you think about a 5 year term for the lease? Also, the part about the lease automatically renewing if they are drilling at the end of the lease term? I thought we should get to renegotiate when it runs out. Thanks.
no actually no company is going to renegociate after the rig is on the lease if the lease runs out in the middle of drilling the well. That is an oilfield standard. so i would forget about doing something like that. Your right i cannot find any posts regarding empire so i cannot vouch for them either way....I guess you can try it and tell us how it works out.
Liz

Bothell, WA

#79 Jan 9, 2009
The Big Fish wrote:
<quoted text>
no actually no company is going to renegociate after the rig is on the lease if the lease runs out in the middle of drilling the well. That is an oilfield standard. so i would forget about doing something like that. Your right i cannot find any posts regarding empire so i cannot vouch for them either way....I guess you can try it and tell us how it works out.
Good to know it doesn't work that way. Thanks.
Jinglebob

Golden, CO

#80 Jan 18, 2009
Leasing right now for what must be the last acres in Dunn County with Empire. $125 per acre, 5 years at 3/16th.
DeeDee

Pittsburgh, PA

#81 Jan 19, 2009
I have a 1/7 share and on another 1/7 share,I have a 1/6 of that half of that share as well, in 280 acres of mineral rights in Dunn County ND. On the 120 acres there is 75% ownership and on the 160 acres, there is 100% ownership. Is this a good ownership of mineral rights? And I signed a 3yr. lease with a company at $350 per acre and a 17.5% of substance produced for the royalty. Is this good? They have set 1 well up on the 120 acres. The other 160 acres they are waiting till the price goes up or they are just sitting on it till later and they said as of 11-08-2008 they have what they call a "spud". I know that means they are drillng a hole. Do you know how long after they spud it will take take to get oil? There is seven of us on the oil lease. We inherited this rom my grandmother. It is all in Dunn County ND. How long does it take to receive royalties after they hit oil? Thanks for your time.
DeeDe
DeeDee

Pittsburgh, PA

#82 Jan 19, 2009
Liz wrote:
My family has 160 acres in Roosevelt County, MT, by Empire Oil Company. We're being offered $50/acre for a 5 year lease and 15% royalty. Your thoughts, Big Fish? Is this a reasonable offer by a reputable company? Thanks for all your comments here.
My family has 280 acres in Dunn county ND and we signed an oil and gas lease with them as well.So far so good.We did get $350 per acre and a 3 year lease and 17.5% royalty. Now we got this when oil was $147 a barrell. Now, considering the price of oil per barrell has dropped so much Empire Oil is not offering as much per acre. So do some checking and talking with some companies and see what they say. Empire Oil has been around for awhile. My grandmother was with them since the early 80's. She has passed since 2004 and we,(the grandkids) have inherited.All the 280 acres of mineral rights. And we have sighned a 3 year lease with them. I had a few questions I posted on here. Hope someone gives me a few tips. Good Luck and just do some checking around with leasing companies.

Since: Jul 08

Denver, CO

#83 Jan 19, 2009
DeeDee wrote:
I have a 1/7 share and on another 1/7 share,I have a 1/6 of that half of that share as well, in 280 acres of mineral rights in Dunn County ND. On the 120 acres there is 75% ownership and on the 160 acres, there is 100% ownership. Is this a good ownership of mineral rights? And I signed a 3yr. lease with a company at $350 per acre and a 17.5% of substance produced for the royalty. Is this good? They have set 1 well up on the 120 acres. The other 160 acres they are waiting till the price goes up or they are just sitting on it till later and they said as of 11-08-2008 they have what they call a "spud". I know that means they are drillng a hole. Do you know how long after they spud it will take take to get oil? There is seven of us on the oil lease. We inherited this rom my grandmother. It is all in Dunn County ND. How long does it take to receive royalties after they hit oil? Thanks for your time.
DeeDe
If they spuded today you MIGHT have a check by July 4th....
Liz

Bothell, WA

#84 Jan 22, 2009
Jinglebob wrote:
Leasing right now for what must be the last acres in Dunn County with Empire.$125 per acre, 5 years at 3/16th.
I'm not sure what you mean by this: are you saying Empire is offering these terms right now in Dunn County?

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