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