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Oil & Gas Companies in North Dakota. Agate Petroleum, Inc. Alpar Resources, Inc. American Oil & Gas, Inc.
Department of Mineral Resources, Oil and Gas Division The Department of Mineral Resources' Oil and Gas Division regulates the drilling and production of oil and gas in North Dakota.
The North Dakota Industrial Commission is the body that oversees the management of several separate programs and resources, including the Bank of North Dakota, North Dakota Mill and Elevator, and the Department of Mineral Resources.
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
Mineral interests last indefinitely as long as they are not abandoned. Minerals are considered abandoned when they have not been used or claimed for twenty or more years. Minerals are ?used? when some type of activity such as production, leasing, or conveying occurs under North Dakota law.
A mineral rights owner does not necessarily have to own the land property itself but must have a legal agreement with the property owner. In North Dakota, mineral rights can be transferred in three ways: deed, probate or court action.
North Dakota Quick Facts North Dakota ranks third in the nation, after Texas and New Mexico, in both crude oil reserves and production.
The Legislature created the Industrial Commission of North Dakota (the "Commission") in 1919 to conduct and manage, on behalf of the State, certain utilities, industries, enterprises and business projects established by state law.