Leases May Command Ten-Fold Increase in the Bonus Price -- Bakken, North Dakota, USA

Link here.

The scuttlebutt in the Bakken right now is that "most five-year leases that expire this year are likely to command a ten-fold increase in the bonus price when the land is again leased." -- John Andrist, Crosby, ND, current ND legislator, past publisher of the Divide County Journal, in the March 30, 2011, Journal.

Something tells me there is going to be a lot of drilling going on this summer. Or at least a lot of pads ... and backlogs.