MDU Resources Group, Inc. (NYSE:MDU) today announced the acquisition of 20,000 additional acres of leaseholds in the Bakken oil play. The new leaseholds are in Richland County, Montana. The company now holds a total of approximately 90,000 net acres of leaseholds in the Bakken.Richland County, Montana, is where the current Bakken play began back in 2000.
I'm wondering if companies like MDU Resources, which is showing an interest in Montana acreage, will lease areas currently held by other operators. Example, EOG Resources has thousands of temp. spaced acreage in Roosevelt County and has had very little activity in Montana. Currently operating only one rig in the area with numerous temp. spaced leases nearing expiration.
ReplyDeleteFolks have commented on this -- that it is likely to happpen.
ReplyDeleteWith regard to MDU, I have commented often that MDU literally blew it by missing the Bakken in their own backyard. MDU is headquartered in Bismarck, and how they missed the Bakken is anyone's guess. MDU appears eager to get back into the Bakken and the Niobrara.