Oil In Western Nd!!!!
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This is only great news to the general public if ND built refineries and drilled for oil themselves. Than it would introduce numerous jobs and maybe a lot of benefits for the state. However, from the sounds of it, Texas companies would be the ones to build the refineries and reek the profits. Either way, we'd see some increase in jobs possibly..
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KA-T_240;214177 wrote:
Sad to say. Just because you own the land, doesn't mean you own the mineral rights to what is under that land.Well I doubt his family would start up an oil refining business and start drilling themselves..
But like you said, they do own the land.. That means that their land could be of quite high value in compared to before the newly discovered amount of natural resources. I think that is what particularly excites Krazy Kling, depending on the amount of acreage they have, it could maybe double/triple or more in value.
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DelSlow;214185 wrote:
sweet...more oil to be sold at the same price. Cool.truth....
"In the news today, they found 29,023,442,257,250,240,401 zillion gallons of oil, which should return even higher record profits for oil tycoons.......In other news, gasoline hit $5/gallon across the country. It appears that trucking jobs are at a standstill and our economy is still failing."
/ emoness
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we do have mineral rights on that land, the oil company pays our family a percentage of the amount of oil they pull up. just to clarify KA-T 240. i highly doubt this will change the price of gas since the dollar isnt worth shit.
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KA-T_240;214177 wrote:
Sad to say. Just because you own the land, doesn't mean you own the mineral rights to what is under that land.true in some cases, but not with all of our land
They are actually drilling two new wells on the GF's family's land as we speak.....
"honey, i really want this forged rotating assembly..... please".....lol
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zbrown;214209 wrote:
They are actually drilling two new wells on the GF's family's land as we speak.....i can't help but be reminded of this:
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do you have any idea how many barrels are used in the US alone in one day?
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i am not concerned about the oil consumption in the US, the only reason i posted this was to let the unknown know something. i am just excited to see what happens when they start pumping that oil off out land.
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Krazy_Kling;214272 wrote:
i am not concerned about the oil consumption in the US, the only reason i posted this was to let the unknown know something. i am just excited to see what happens when they start pumping that oil off out land.
if they have drilled on your land before and come up with little.... would you not think that there is still very little under your land?.... logic... -
My girlfriend's brother's fiance told me a story about her step brother, an insurance consultant in western ND, who got a call from a 90 year old client of his a week or two ago, asking him to visit her at the nursing home because she had a question about her oil check. He got there and she handed him a check for a million dollars that she received from the oil company and she said that they must have over paid her, and that she would do whatever she had to in order to get the right amount of money. A couple days later, she received a letter of apology from the oil company and a check for the correct amount - which turned out to be 115 million dollars.
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