$8,600/Acre in the Bakken (ND, USA)

Someone paid $8,600/acre for 3.34 acres in the Bakken:

OG1003464

152

93

3

MISSOURI RIVER IN SW4

TRINITY WESTERN

3.34

$8,600.00

That's a "cut and paste" -- but it says that Trinity Western paid a bonus of $8,600.00/acre for 3.34 acres of minerals in section 3 of T152N-R93.

If you look at the GIS map server at the NDIC website, you will see that section 3-152-93 in the Sanish oil field, is mostly under water; maybe 25% land; 75% river, depending on water depth and how accurate the map is.

There is currently a producing well in that section:

• 17554, a long lateral originating in section three and running southeast into section 2
• There is also a rig on site in this section for permit 19221, and there is a well that is almost complete (the rig is off-site), permit 19222. 

So, the three wells in this section:

• 17554, Hansen 21-3TFH, a Whiting Three Forks well, with an IP of 489, that my database showed reported out back in September, 2009, NENW 3-152N-93W.
• 19221, Whiting, Ness 21-3H,  Lot 3 3-152N-93W
• 19222, Whiting, Bartleson 21-3H, Lot 3 3-152N-93W

So, we will see. Only $29,000 for the 3.34 acres (3.34 x $8,600).

Look at that IP. 489. This is one more indication the IPs don't mean a thing. There's something about this particular location that made it worthwhile for somebody to pay a record price/acre, and it wasn't based on the IP.

I thought this was a record, but I think Enerplus still holds the record of nearly $10,000/acre for a much bigger tract.