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Does anyone know how much people are making on leasing there mineral rights to the oil companys ? we have three townships and got a check for about 4500.00 just to lease. But now they are drilling and told us they should hit oil in the next three months... Just wondering what to expect.
This is all very much dependent on how many acres you have to lease, where those acres are, and who is trying to lease them. You could post some of those items to get us more info. Maybe someone can answer going rates in those areas. I've heard $150/acre up to $4000/acre. It all just depends on where it's at. The bakken doesn't pay the same in all areas on ND. Mountrail/Williams/McKenzie county is the highest pay but areas to the south and north are starting to pay a good bonus as well. If you got a check it sounds like it's already leased and there is nothing you can do. If the are drilling the deal has usually been made and now you can just wait for a check. you won't see a royalty check until 6 months after the well has been put producing.
You really need a N.D. lawyer, you may get shorted. I read of folks that are only getting 1200 mth, and their farm has been over run w/ trucks, landscape ruined, peace and quiet destroyed. That isn't enough money, given the values that are being publicized. There are companies cold calling folks, the research property, and random call. Please be smart, get the advise of local attorneys, often a consult is free. Protect your assets, no one in the oil industry will.
At that rate, $4500, you would make more renting your land out to workers, or housing providers. Get some legal advise fast
It may be too late to need a lawyer is it's already leased. If you are working with a reputable land leasing company you will not need a lawyer.
The people that only get $1200 per month did not own ALL of the mineral acres below the well or the well is not a big producer. There is a millionaire a month being made in the ND oilpatch but there are many others that just get a taste of the pie and not the whole thing. The people that are making $1200 per month did not get a raw deal they just didn't hit the lottery with their acreage.
It may be too late to need a lawyer is it's already leased. If you are working with a reputable land leasing company you will not need a lawyer.
The people that only get $1200 per month did not own ALL of the mineral acres below the well or the well is not a big producer. There is a millionaire a month being made in the ND oilpatch but there are many others that just get a taste of the pie and not the whole thing. The people that are making $1200 per month did not get a raw deal they just didn't hit the lottery with their acreage.
This is certainly not my area of expertise, but it seems to me, if your land has been over run, complete well site, all the implements, and all the housing buildings etc on site, the noise, the chaos of a drilling rig. Then if you are only getting 1200 mth for all that aggravation....You more that just didn't get your piece of the pie....you didn't even get crumbs, and I am referring to an article from herald last week, couple wishes they had never even allowed this on their land. I still say, when in doubt consult a lawyer, someone you trust that represents you. I am just referencing this as an example, not everyone involved in this oil boom is getting rich.
I will be graduating from CDL school on the second week of December. I will be getting my Full Class A CDL with Hazmat, Tanker and double/triple endorsements.
Obviously my experience will be ZERO. So I will not accept a job offer requiring me to drive a truck right away without some training. Im crazy, NOT stupid.
But I've read that even without experience driving a truck, I still can land a job in North Dakota , specifically in the oil patch, only with my CDL and endorsements .
Have any of you been in my situation?
What type of job and how much can I expect to get?
Im assuming the company will have to provide training?
Maybe a job that requires manual labor and some driving?
Im looking for a job in which I can work lots of overtime, not only 11 or 12 hrs.
To all my friends in this forum whom have helped me prepare in this difficult journey of mine and, why not, to my critics as well (haters). I appreciate you guys for taking the time of giving me your advice, comments and insights.
I see you in Williston before the end of the year. You can find me at Chateau Walmare unless police keep cracking down on people looking for the american dream.
Well, my job was lost due to some other reasons and I may be looking towards this area for a driving job as well.
If there's any reason to get away from this coastal state, then this it.
I'll gladly deal with the sub-zero if it means my money isn't subpar.
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Recently Graduated CDL student ........... Job possibilities?
