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:

• 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)

With regard to the oil trust fund benefiting ND schools, currently at $2.2 billion:  approximately 140,000 school-age children in ND (between 4 years - 18 years) --> $16,000/student; does not include property taxes for schools; nor does it include the universities; nor does it factor the number of students not attending public school, but going to private schools, or home-schooling.