Another Acquisition by American Standard -- Bakken, North Dakota, USA

Link here.

Ticker symbol: ASEN.OB

This is not the first time I have mentioned American Standard; this is the link to an earlier post.

This acquisition was also in Rigzone:

American Standard has acquired 10,147.66 acres located within eight (8) counties of North Dakota (the "Bakken") from Geronimo Holding Corporation (the "Seller"). ASEN acquired the property for approximately $7,418,000 in cash and Company stock making the average price between $700 and $750 per acre, which is below the current market per-acre price for prolific Bakken minerals.

The acquisition represents the single largest Bakken acquisition to date for the Company and increases its Bakken holdings by more than 160% bringing its total land holdings in the Bakken to over 16,000 acres.

The location of the acreage places the Company near or adjacent to signification operations within each of the counties represented in the acquisition including Mountrail, Williams, Southern Burke and McKenzie Counties.

I have said several times that I expect 2011 to be the year of consolidation in the Bakken. It is getting too expensive for marginal players to continue. They can either sell out now or sit on property worth millions and not have anything to show for it.

I am also impressed with the price paid for this acreage. I would love to know more about the location of this acreage, and eventually we may know more.