Active Acquisition State
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Eastern Montana shares the Williston Basin with North Dakota, and the same Bakken and Three Forks formations that drive North Dakota's oil production extend westward into Richland, Roosevelt, and surrounding counties. We actively buy mineral interests and royalties across Montana's Bakken trend and conventional plays. Montana's Elm Coulee field in Richland County was actually the first commercially successful horizontal Bakken development, predating the North Dakota boom by several years. While Montana's Bakken acreage is generally less productive on a per-well basis than the core North Dakota counties, the state continues to see meaningful drilling activity, and mineral rights in the eastern Montana counties remain valuable.
Highlighted state with approximate basin locations shown in tan
The table below shows the top producing counties in Montana where we are most active, along with the primary operators and target formations in each area.
| County | Major Operators | Key Formations |
|---|---|---|
| Richland | Continental Resources, Chord Energy, Kraken Oil & Gas | Bakken, Three Forks |
| Roosevelt | Continental Resources, Chord Energy | Bakken, Three Forks |
| Sheridan | Chord Energy, Veren (formerly Crescent Point) | Bakken, Three Forks |
| Dawson | Continental Resources, Chord Energy | Bakken, Three Forks |
| Fallon | Denbury Resources, Continental Resources | Red River, Bakken |
| McCone | Continental Resources | Bakken |
| Big Horn | Fidelity Exploration, Balcron Oil | Frontier, Muddy, Tongue River |
| Rosebud | Fidelity Exploration | Frontier, Muddy, Tongue River |
We cover 10 Montana counties in total. Beyond the counties highlighted above, we also buy mineral rights in these 2 additional producing counties, listed in order of recent oil and gas activity:
Montana's Bakken is operated primarily by companies with larger positions across the border in North Dakota. Continental Resources and Chord Energy (formed from the Whiting–Oasis merger and the 2024 Enerplus acquisition) are the most active operators in the eastern Montana Bakken counties. Veren (the Canadian operator formerly known as Crescent Point Energy) also holds acreage in Sheridan County. In the Cedar Creek Anticline, Denbury Resources has been the primary operator and has invested in CO2 enhanced oil recovery infrastructure. The Powder River Basin counties in Montana see activity from smaller operators including Fidelity Exploration. The operator overlap with North Dakota means that Montana Bakken wells tend to benefit from the same technology improvements and completion techniques used across the state line.
Operators ranked by the number of Montana counties where they hold the top active-well count. Counties where the operator runs the most active wells link through to the county detail page.
Montana mineral lease terms in the Bakken counties typically include royalty rates of 1/6 (16.67%) to 1/5 (20%), with 1/6 being more common in fringe areas. Montana has a forced pooling mechanism through the Montana Board of Oil and Gas Conservation, though it is used less frequently than in North Dakota. Bonus payments for new leases in the Montana Bakken are generally lower than in the core North Dakota counties, reflecting the thinner drilling inventory. Montana imposes an oil and gas production tax that varies based on the type of production and is typically in the range of 9% to 14.8%, which is higher than many other producing states and can affect the net royalty income received by mineral owners.
We buy mineral interests, royalty interests, NPRI, and ORRI across Montana's Bakken and conventional producing counties.
Not sure which type you own? Start with our mineral rights glossary for plain-English definitions of MI, RI, NPRI, and ORRI.
Montana has significant tribal mineral ownership on the Fort Peck and Crow reservations, with Bureau of Indian Affairs involvement in some title chains. Federal minerals under BLM leases are also common. We are experienced working through the permitting and payment structures that come with these arrangements. Montana's production tax rates are among the highest in the country, which is an important factor in our valuation of Montana mineral interests.
Montana mineral owners occasionally run into questions about severance-tax treatment, dormant mineral statutes, and non-participating royalty interests. These topics rarely drive a transaction, but understanding them helps you read a division order or evaluate an offer. The summaries below are starting points — verify against current statute text before relying on them.
Oil and gas production tax with rates that vary by well type, age, and production volume. Standard rate up to 9.3% on oil, lower for stripper wells and qualifying horizontal wells (incentive rates of 0.5%-2.5% during initial production windows).
Montana also imposes a Resource Indemnity and Ground Water Assessment Tax of 0.5% of gross value, a privilege and license tax, and county-level ad valorem property tax on producing minerals.
Statutory citation: MCA 15-36-304
Montana has a Dormant Mineral Interest Act (MCA 70-30-101 et seq.). After 20 years of non-use (no production, no lease, no recorded use), the surface owner may file a Notice of Lapse; the mineral owner has 60 days to file a Statement of Claim preserving the interest. Without preservation, the mineral interest reverts to the surface owner.
Statutory citation: MCA 70-30-101 et seq.
Montana recognizes NPRIs as cost-free royalty interests. NPRIs are subject to the same 20-year dormant mineral risk as other mineral interests under MCA 70-30-101 and should be preserved through periodic Statements of Claim or recorded use.
Need plain-English definitions? See our mineral rights glossary.
Montana Bakken minerals are generally less valuable than core North Dakota Bakken minerals because the Montana portion of the play tends to be shallower, thinner, and lower-pressured, resulting in lower expected future production. However, Montana Bakken tracts in Richland and Roosevelt counties with existing horizontal production remain valuable, and the recent application of modern completion techniques has improved well performance. Many Montana Bakken mineral owners also benefit from Three Forks upside that has not yet been fully developed. We evaluate each Montana Bakken interest individually based on its location, existing production, and remaining development potential.
Elm Coulee is a large oil field in Richland County, Montana, that was the first commercially successful horizontal Bakken development anywhere in the Williston Basin. Discovery production from horizontal wells in Elm Coulee in the early 2000s proved the viability of the Bakken as a horizontal play and directly led to the boom in North Dakota that followed. The field remains in active production, and operators have recently pursued refracture and recompletion projects using modern techniques that have extended the productive life of many wells.
Yes. Montana's oil and gas production tax rates range from 9% to 14.8% depending on the type of production and the age of the well. These rates are higher than most other major producing states. The production tax is paid by the operator and reduces the gross revenue from which your royalty is calculated. When we evaluate Montana mineral interests, we account for the state's tax structure in our valuation to ensure our offer reflects the true after-tax economics of the production.
If your mineral interest is held in trust by the Bureau of Indian Affairs (BIA), the sale requires BIA approval, which typically adds 60 to 90 days to the closing process. Fee simple mineral interests within reservation boundaries that are not held in trust can be sold like any other mineral interest. We have experience working with both trust and fee minerals on and near Montana reservations and can guide you through the process regardless of your ownership category.
Montana oil and gas production is regulated by the Montana Board of Oil and Gas Conservation, which issues drilling permits, establishes spacing units, and enforces production and environmental regulations. The Board has authority to compel pooling of unleased mineral interests, though this is less common in Montana than in some other states. The Board's well records and production data are publicly available and are tools we use during our evaluation of Montana mineral interests.
Learn more about the basins active in Montana:
Many Montanamineral and royalty interests are held by heirs who live elsewhere. If that's you, our metro pages address the inheritance, ancillary-probate, and tax mechanics specific to your home state:
See all mineral rights FAQ.
State-specific guides covering the legal mechanics that come up most often for owners considering a sale.