There has been speculation that Wells, selected by North with pick No. 2 in the 2002 NAB AFL Draft, may choose to return to his native Western Australia at season's end.
However, the 23-year-old is determined to strike a new deal with his club.
"We're almost starting the negotiations and they're not even that really, just a bit of fine-tuning," Wells said in a feature for kangaroos.com.au.
"I wouldn't have thought it would be too long before it's sorted out."
Wells has played 116 games for North Melbourne and in recent weeks has discovered the consistency that earned him equal second in the club's best and fairest count of 2006.
A knee injury sidelined him for a fortnight after the round nine win over the Western Bulldogs and, since his return, he has averaged 25 possessions.
Those efforts were emphasised by a key role in North Melbourne's win over Collingwood on Friday night, damaging the Pies as a loose man in defence.
"It's been consistent, probably the best I've played [since I've been here]," Wells said.
"Coming back and realising my spot in the team and the way the season's going and the way my own form [had been], I needed that consistency."
To read the full feature on Daniel Wells, click here.
