Basin Detail
The Williston Basin is a large intracratonic basin spanning western North Dakota, eastern Montana, and parts of Saskatchewan and Manitoba. The basin's Bakken Formation and underlying Three Forks Formation were the proving ground for horizontal drilling in tight oil and have transformed North Dakota into one of the top three oil-producing states in the country. The Williston Basin has been producing oil since the 1950s from conventional formations, and the modern Bakken horizontal play has created enormous value for mineral owners across the region. We actively buy mineral rights, royalty interests, NPRI, and ORRI across the entire Williston Basin in both North Dakota and Montana.
Approximate location of the Williston Basin (Bakken / Three Forks) shown in tan
The Bakken Formation is a tight oil reservoir consisting of three members: the Upper Bakken Shale (organic-rich source rock), the Middle Bakken (the primary reservoir target for horizontal drilling — a mixed limestone, dolomite, and sandstone interval), and the Lower Bakken Shale. Below the Bakken lies the Three Forks Formation, which has become an increasingly important secondary target with up to four productive benches identified in the core of the play. The total productive section spans 100 to 150 feet of thickness. In the core McKenzie County area, the Bakken sits at depths of 9,000 to 11,000 feet and is significantly overpressured, which drives strong initial production rates.
The Bakken is dominated by Hess Corporation, Continental Resources, and ConocoPhillips, which together account for a large share of total production. Marathon Oil, Whiting Petroleum (now Chord Energy), and Oasis Petroleum (now Chord Energy) are also significant operators. In the Montana Bakken, Continental Resources, Enerplus, and Crescent Point Energy are the most active. The play's operator base has consolidated through mergers in recent years, with most production now concentrated among a handful of large, well-capitalized companies.
Williston Basin mineral values are driven by the number of producing wells, remaining undeveloped Bakken and Three Forks locations, the specific county and formation thickness, and operator activity levels. Core North Dakota acreage in McKenzie, Williams, and Mountrail counties commands the highest valuations due to thicker reservoir sections and higher per-well productivity. Three Forks development potential can add meaningful value by effectively doubling the number of drilling locations on many tracts. Montana Bakken acreage generally supports lower valuations due to thinner reservoir development.
Most Bakken mineral sales we close share a profile: an out-of-state heir holding a fractional interest in McKenzie, Williams, Mountrail, or Dunn County that traces back to a homestead, with checks from a unit drilled a decade ago. Pricing these correctly means reading three things — the unit’s decline curve, the operator’s refrac and infill record in that township, and whether the spacing unit still has undrilled Three Forks benches. Mature Bakken units are not all equal: core acreage under operators running active refrac programs carries real remaining upside that a checks-multiple offer ignores.
Two Bakken-specific notes for sellers. North Dakota withholds a small percentage of nonresident royalty income, and inherited interests need their heirship chain recorded before any sale closes — we routinely buy from heirs mid-process and absorb the title work. A written, underwritten offer takes 48 hours from a county name, operator, or check stub, and selling your fraction never requires your siblings to sell theirs.
Additional counties we cover within the Williston Basin (Bakken / Three Forks), sorted by recent oil and gas activity:
The Three Forks Formation lies directly beneath the Bakken and has become an increasingly important development target. Operators have identified up to four productive benches in the Three Forks, though the first and second benches are most commonly drilled. In the core of the play, Three Forks wells deliver economics comparable to Bakken wells, effectively doubling the number of drilling locations on many tracts. When we value Bakken minerals, we include the Three Forks potential as a key component of undeveloped upside.
Bakken well performance has improved dramatically over the past decade. Modern wells with extended laterals (2 to 3 miles) and enhanced completion designs produce significantly more oil per well than the early vintage wells. This improvement in well productivity has increased the value of mineral rights by extending the economic development potential of each tract.
The core of the Bakken play is in western North Dakota (McKenzie, Williams, Mountrail, Dunn counties), where the formation is thicker, deeper, and more overpressured. The Montana Bakken (Richland, Roosevelt counties) is thinner and shallower, resulting in lower per-well productivity. However, Montana Bakken minerals are still valuable, particularly tracts with existing production and Three Forks upside. The Montana Bakken's Elm Coulee field was actually the first commercially successful horizontal Bakken development.