- the state: $1.1 billion in royalties since 2007
- 90% of the state mineral acreage is privately owned
- the state has 1.2 million acres in the oil patch region
- almost two-thirds of these 1.2 million acres has a well or will have a well within 5 years
- this past year: royalty income exceeded leasing income (huge)
- 2,089 wells on state land: nearly a five-fold increase from just four years earlier
- $192.1 million in royalty revenue for last fiscal year
- currently: state royalties running at $20 million monthly
- lease revenue dropping
- a record $294 million in lease revenue in fiscal 2010
- $125 million in lease revenue in fiscal 2011
- oil trust fund, benefiting ND schools, has doubled to $2.2 billion
- the state owns 1.2 million acres (noted above); 1,925 square miles; one-third of the land is leased; one-third is leased and producing; one-third yet to be leased (but much of that is outside the better Bakken)
- sweet spots yet to be leased: 287 acres in Williams County (92,000 state-owned acres); 272 acres in Divide County (72,302 acres)
Tuesday, November 27, 2012
North Dakota State's Oil Royalties: Random Update
Random data points from The Bismarck Tribune, November 26, 2012, data as of the end of the fiscal year, July 31, 2012:
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