ND Mineral Acres Bought For About $7,000 / Acre -- February 25, 2017

Active rigs:

	2/25/2017	02/25/2016	02/25/2015	02/25/2014	02/25/2013
Active Rigs	40	39	121	190	181

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Updates

May 6, 2018: flipped.

Original Post 

New "name" in the Bakken. In the March, 2017, NDIC hearing dockets, a new name was noted, DW Slate. The company is not yet found on the NDIC "well search" site. From a pay site:

Austin real estate developer Forestar Group is selling its oil and gas assets targeting the Bakken and Three Forks in North Dakota for $59.5 million. Buyer DW Slate, an affiliate of New York alternative asset manager DW Partners, is getting 9,000 net acres (56% HBP) and an average 8% WI in ~140 producing wells primarily located on the Fort Berthold Indian Reservation near Parshall field. DW Partners was spun off from European hedge fund...

$60 million / 9,000 net acres = $7,000

Forestar was also not found at the NDIC "well search" site. So, I don't see either of these as operators; they hold "interests" in mineral acres in North Dakota. 

A DW Slate, LLC, has this address: 590 Madison Avenue, NY, NY 10022.

The Form 8-K, April 7, 2016:

• seller: Forestar Petroleum Company, subsidiary of Forestar Group
• buyer: DW Slate, LLC
• $50 million
• assets located in Divide, Dunn, McKenzie, McLean, and Mountrail Counties

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