No matter how much they paid me, I could never be a land man in the Bakken. I met some of the nicest folks yesterday, all land men working for the same company in Williston. Very, very interesting to talk to them in general terms. They did not get into any specifics but just talked about what it was like to be a land man in the Williston Basin.
It reminded me of my days as a door-to-door encyclopedia salesman 40 years ago. Can you imagine going to a farmer to arrange for a well to be put on his land, and knowing that the farmer no longer had the mineral rights? The mineral rights had been sold, traded, or given away decades earlier.
The law requires that the surface owner allow the well. Of course, the surface owner is compensated for use of land, but it sure doesn't make up for fact that he/she does not own any of the mineral rights. Bummer.
Nope, I could not be a land man.
I asked if they thought the Bakken had been over-hyped. Their answer: we're just getting started.
"You know that formation just below the Bakken."
Long pause.
"It's bigger than the Bakken."
There are still some real "rotter" landmen out there in the Bakken, Bruce. Signing elderly farmer's widows through fear and intimidation is still part of their persuasion toolkit. Shame on them. I'm dealing with one that I'd like to report to his client company, but I'm afraid it's complaining about a leopard having spots. What recourse does a mineral owner have with abusive, Extreme pressure landmen? And don't say walk on to the next game. That doesn't change anything.
ReplyDeleteThanks for letting me vent...
As noted, I could never be a land man. I would hope by now friends and family members of mineral rights owners and surface owners help those who do not understand the oil business.
ReplyDeleteIt seems small newspapers could print stories about all these issues. I see plenty of ink on relationship problems, vitamins, baldness, but little advice on the oil business in the local papers.
Maybe a landman will respond to my post? I'd like to hear their point of view.
ReplyDeleteBTW, I am a rabid fan of your blog. A huge thank you for all the information.
Thank you for your kind comments.
ReplyDeleteI have to apologize for posting so little these past few days. I am traveling and it's difficult to find public computers and the time to update.
I am in the Bakken right now and will have much more to post in a few days.
I will end up in Portland, Oregon, where I will buy another Apple laptop (no sales tax in Oregon) for these extended travel trips.