Over 100,000 people across North Dakota have mineral rights, and many of them let oilfield companies extract those minerals in exchange for royalties. Engineers say a lot of the time, the oilfield companies undervalue what those minerals are actually worth and mineral rights owners don't know where to look to get their questions answered.
Two Watford City natives saw this problem, and decided to create a company called Mineral Trackers, an online platform where mineral rights owners can monitor their royalty payments.
Joel Brown, Co-Founder of Mineral Tracker, says "It not only becomes the gateway to not only understanding and being better educated on your mineral asset, but for having us, two engineers here in Watford with a lot of experience here in the oil and gas industry at your beck and call, basically."
Brown spoke at the 1 Million Cups event today at Williston State College, and announced they will be launching their app, where people with any amount of mineral assets can join and utilize their resource for free.