Monday, May 5, 2008

Let the bidding begin...

About a month ago, I received a message from my brother that a company in Montana wanted to lease our land in North Dakota to drill for oil. Well, since then, we have been approached by 2 other companies that also would like to lease our land. So, tomorrow my brother and I will join several of our cousins, and an aunt and uncle to discuss our options with an attorney and try to figure out what best to do. So far the best offer I have seen is for $500/acre and a 3/16th royalties. I have done some research about the land in North Dakota and am shocked to find out there is SO MUCH information online right now in regards to this. Apparently North Dakota is becoming a very popular place for this type of drilling, so we'll see what comes of it. Should be interesting. If nothing else, it will be amusing to watch some of my cousins foam at the mouth at the thought of this money. I'll let you know what I find out.

2 comments:

Escape Brooklyn said...

Wow, that's really interesting. I hope you and your family can make a bundle and I'll eagerly await any family drama updates. ;)

lpkitten said...

hey, that is so exciting for you. i hope you strike it rich! :) have you seen there will be blood? i love that movie, very interesting stuff