The state of North Dakota holds lease sales auctions on a quarterly basis. So far this year North Dakota has held three sales.
To date, in those three sales, North Dakota has leased 137,000 acres for $270 million.
In all of 2009 (four quarterly lease sales), the state leased about the same number of acres for $100 million.
Nearly three-fourths of North Dakota's 1.1 million acres in 16 oil-producing counties are leased.
all i want know is when will the action move into WARD COUNTY.i know there are alot of people waiting like myself. especially those like myself in south west WARD just over the county line from mountrail and the parshall fields.
ReplyDeleteI obviously have no idea. Comments from geologists and from folks who know the Bakken very, very well have commented on other websites about oil patch moving east.
ReplyDeleteIt will take one good well -- a wildcat -- in Ward county to open things up. Northwest of Williston was always very, very slow until the Brad Olson / Olson wells by BEXP absolutely, explosively opened that area.
I own no mineral rights, but I know people who have waited their entire life times for leases. It's an interesting "game."