Eagle Ford Minerals Going For $70,000 / Acre? - June 25, 2014

I'm not convinced the Eagle Ford, section vs section, is that much better than the Bakken. Time will tell.

Bakken mineral acres have probably sold in the range of about $2,500/acre, average, as a round number, over the years from the better Bakken to the best Bakken. There have been some "astronomical" prices paid for small parcels in more recent times. You can search the blog for examples.

So, how much is the Eagle Ford going for?

Zack's is reporting:

Exploration and production (E&P) company, Encana Corporation declared the closure of 45,500 net acres of Eagle Ford properties’ acquisition from mineral explorer Freeport-McMoRan Copper & Gold Inc. Encana paid roughly $3.1 billion in cash for the purchase.

BOTE: $3.1 billion / 45,500 acres = $70,000 / acre.