Wednesday, March 9, 2011

Legend Completes Acquisision -- Bakken, North Dakota, USA

Legend has completed the acquisition of un-developed mineral leases in Divide County, North Dakota, in close proximity to the Ambrose Field.
Data points:
  • Un-developed leases in Divide County
  • Six sections totaling 3,840 gross acress, Bakken and Three Forks develpment
  • 387 net acres
  • Leases are contiguous in nature
  • Close proximity to Three Forks play where SM Energy and Baytex drilling in the Ambrose field to the east
This should give folks some idea how "big" the Bakken name is to oilmen.  A story of a company acquiring 387 net acres was big enough to get Rigzone's attention.

Actually, I have trouble believing it made the news.
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2 comments:

  1. AnonymousMarch 9, 2011 at 9:19 PM

    Looks like an nog wanna be

    ReplyDelete
  2. Bruce OksolMarch 9, 2011 at 9:25 PM

    It will be awhile.

    NOG's market cap is $1.7 billion.

    400 net acres up in Divide County probably cost not more than half a million dollars.

    By the way, I can't believe how fast NOG got to $1.7 billion. I think NOG has all of five or six employees.

    ReplyDelete

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