Billings:
- 16 tracts
- bonus: as high as $506; most in the $200 - $300 range
- NP Resources; Northern Energy Corportion
- largest tracts: 160 acres
- smallest tracts: 4.77 acres
- 1 tract; BPH; $81/acre for 80 acres
- 21 tracts
- Northern Energy; Diamond Resources
- although some has high as $336/acre; most less than $160/acre
- most were 80 - 160 acres
- 1 tract; Lynx Oil; 80 acres; $169/acre
- 11 tracts
- NP Resources -- almost all of them; two tracts: Northern Energy
- almost all tracts were 160 acres; one tract - 6 acres
- the 6-acre tract went for $256/acre, but all the rest $200 and blelowp with one 160-acre tract that went for $445/acre
- two tracts
- Liberty Resources paid $890/acre for an 80-acre tract
- Bison Plains Energy paid $18,000 / acre for a 28.65-acre tract
- that tract was described as Mississippi River in NE4, 153-93-28, Banks oil field, tract completely under the river
- three tracts; all BPH
- 20-; 40-; and, an 80-acre tract
- $2/acre; $2/acre; and, $4/acre
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Back of the Enveope
Looking at that Mountrail tract
- $18,000 * 28.65 acres = $500,000 (rounding)
- 500,000 bbls in first three years for a 1280-acre spaced well
- 28.65 / 1280 = 2.2%
- 0.022 * 500,000 = 11,000 bbls / in first three years
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