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Wednesday, November 3, 2010

State Oil Lease Sales, November 2, 2010 -- Results -- $8,600/Acre -- (Bakken, ND, USA)

For the full report, click here and enter county your are interested in (for newbies, select among these counties: Williams, Mountrail, Dunn, McKenzie, to begin your search).

A few tidbits:

Mountrail County, only six leases total (home of the Sanish and the Parshall):
  • Slawson paid $6,500/acre for 40 acres in 23-92-151 (total = $260,000)
  • Slawson paid $6,200/acre for 80 acres in 23-93-152 (total = $496,000)
Williams County
  • Liberty Resources LLC paid $4,250/acre for several 160-acre tracts
  • Exterra Resources LLC paid $4,200/acre for several 40-acre tracts
  • Petro-Hunt LLC paid $4,000/acre for one 160-acre tract
  • There were no tracts greater than 160 acres; and most were 80 acres
McKenzie County
  • Trinity Western paid $8,600/acre for 3.34 acres (3-152-93); but not a record
  • LSM Energy Inc paid $6,100/acre for two tracts (one 20-acre, and one 80-acre tract)
  • LSM Energy Inc paid $5,400/acre for several very small tracts (40 acres each)
  • Lewis Oil Company paid $4,000/acre for several 160-acre tracts
Dunn County
  • All 34 leases bought by Empire Oil Company; most 40 - 80-acre tracts; most ~ $1,000/acre
Golden Valley County
  • Most leases of any county, except perhaps for Williams, but all very low bonuses (under $500/acre and many for $100/acre)
  • Almost all of the action by Lewis Oil Company, LLC
  • Golden Valley is the center of WLL's Lewis and Clark prospect; coincidence?

Yellow River, Christie

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