Sunday, May 11, 2014

Owning North Dakota Oil Leases For As Little As A Dollar An Acre -- Results Of The May, 2014, Oil And Gas Lease Sales

Link here

Billings County
  • most tracts were 80 acres
  • most went for $150 - $375/acre
  • one tract as high as $650/acre
Bowman County
  • a dollar an acre for many 80-acre tracts
  • many $5/acre tracts
  • about a third of the tracts went for $80 - $120/acre
Burke County
  • in the $400 range/acre for the most part
Divide County
  • one 80-acre tract for $13,100/acre (18-97-145)
  • one 40-acre tract for $2,900/acre
  • most acreage in the $400/acre range; but a lot for under $10/acre
  • NOG took advantage of the cheap acreage
  • Golden Valley
  • you could have gotten in for $1/acre
McKenzie County
  • $14,000/acre
Mercer County
  • $11/acre
Mountrail County
  • one tract only, 50 acres; $170/acre, Irish Oil & Gas
Renville County
  • mostly $35 and under per acre
Stark County
  • $150 to $300 for the most part
Ward County
  • perhaps the most acreage of any county; $30 - $40/acre
Williams County
  • $3,000 to $4,000 with one 40-acre tract going for $12,000/acre, Vitesse Oil
  • a $6,200/acre tract and a $5,100/acre tract

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