Friday, August 17, 2012

KOG: $560K For 80 Bakken Acres

August 16, 2012, North Dakota state's on-line auction:
KOG: 80 acres, southeastern Williams County; $7,000/acre --> $560,240 plus fees.

If you can believe it (that's rhetorical, not literal), 1,079 companies viewed the property; 23 registered to bid; nine (9) bidders in the end.
Source: Petroleum News.
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2 comments:

  1. AnonymousAugust 17, 2012 at 8:56 PM

    I bought KOG stock when it was below $8/share. Thought then that this company holds some prime acreage in the Bakken. It is my thinking that KOG will eventually be a very attractive buyout for one of the big boys due to their holdings.

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    Replies
    1. Bruce OksolAugust 17, 2012 at 9:48 PM

      Of the Bakken-centric companies, KOG is certainly the "darling" of Wall Street. I think folks who watch these companies closely, pick a price target; if the share price drops below that price point, they accumulate more. I agree with you; I think KOG is worth accumulating.

      But again, my usual disclaimer. Just idle chatter; not a trading recommendation.

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