There are several good posts today. Don't read just this one. Scroll down to see some very interesting posts, especially the one on the TFS wells by Whiting, announce today.
But I didn't want to lose this little bit of trivia.
Remember the $9,600/acre Enerplus recently paid for acreage in the Fort Berthold Indian Reservation, and the $12,000/acre at a recent North Dakota state lease auction (albeit, a very small tract of land)?
I was checking out the Whiting presentation for recent Enercom 2010 conference. In a footnote, WLL noted the average price it has paid for acreage in the North Dakota / Montana Bakken: ...
.... drum roll .... drum roll .... drum roll ....
... Whiting says they acquired current North Dakota / Montana Bakken acreage at an average price of $168/acre. That is not a typo. The decimal is in the correct location. Less than $200/acre. Whiting has been acquiring acreage since this boom began back in 2006 or thereabouts.
Sure, WLL might have some lousy acres (which I doubt), but WLL practically owns the Sanish, one of the most prolific oil fields in the Williston Basin, where it is putting in four to five wells / section.
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