Link here.
I posted a note on this back on November 24, 2011.
I don't think the Belle Fourche paper quantifies it, but I was told "they" were seeing 1,000 vehicles a day go through Belle Fourche. I would assume that before the boom, during the non-tourist season, one could count the number of vehicles coming from Texas going to North Dakota on one hand. 1,000 vehicles. Now. Per day. Incredible.
And again, they need motels, restaurants, truck stops, and mechanics.
The Bakken is the little engine driving a fairly significant portion of the economy.
Bruce - I notice you have a toolbar on mineral rights.I have a question that maybe you or your well qualified bloggers can answer.I have 3 mineral acres under a well south of Tioga.The well is about a year old and royalties have been running about 50 bucks a month.2 years ago a mineral acquision firm offered to buy for 500 per acre.1 year ago they upped to 1100. Now they have offered 3000 per acre.This is about 15 years of royalty and I don't understand it's worth.Is it possible that a pooling or unitization plan for the Bakken in the future would make these minerals more valuable?Keep up the good work! Is it possible for you to go over to Harvard and teach them the real world?
ReplyDeleteThank you for the kind words. I will also post this as a note on the mineral rights page so those folks will notice it.
ReplyDeleteI have sat in on several classes at the Harvard Business School -- over the past two years. Everything from a case study on Apple (computer) to the Cape Wind project (wind turbines off-shore Massachusetts).
The lectures are incredible. But I am quite surprised how "naive" some of the students seem. On the other hand, all the students are extremely bright and extremely articulate. But I think there is a difference between "bright" and "naive."
But I really, really enjoyed the lectures, but it would be fun to present some general information regarding the Bakken.
I'm not sure if I understood what you wrote, but if I did not misunderstand you, I would never, never sell minerals, unless you really, really need the money. Lease, yes. Sell, no.
It will be interesting to see what others say.