I've been following these quarterly leases a long, long time. In terms of the number of leases, this is the largest lease in quite some time. The Triple T, Inc, dominates in number of parcels.
Note: Ward County (Minot); ten years ago I was told that Ward County would be a surprise.
Flashback from May, 2019:Observations:
Link here. May, 2019 -- online.
- this was a most active auction in terms of number of tracts, and counties involved
- look at Ward County, 91 tracts: years ago I was told by a "hotshot" driver that there was a river of oil all the way to Minot; I remember that quote well, and exactly when/where I heard it
- 41 tracts in Billings County
- I assume Triple T has been around before but Triple T was really, really active this auction
- I don't know for whom Triple T is buying but I have my "suspicions"
- it's hard to believe that after all these years, the state of North Dakota still has acreage to sell/lease
Now, back to the November, 2022, lease sales results.
Billings:
- six parcels
- all Northern Energy Corporation except on Norra Resources
- 40- and 80-acre parcels; two went for $121 and $126 / acre bonus
Burke:
- ten parcels
- most of them Northern Energy; also, Norra Resources, Interwest Petroleum Corp
- all 80-aree parcels; all went for less than $30 / acre bonus
Divide:
- nine parcels
- Northern Energy (3); Hunt Oil (3); Phoenix Captital (2), Anderson Oil Ltd
- mostly 80-acre parcels; one went for $504 / acre bonus;
Golden Valley:
- one parcel;
- Yockim Resource Exploration
- an 80-acre parcel; $52 / acre bonus
McKenzie:
- six parcels
- Northern Energy (4); Phoenix Capital; Iron Horse Royalties
- a few parcels above $400 / acre bonus but then mostly small bonuses
Mountrail:
- eighty-nine parcels
- the bulk of these parcels went to The Triple T, Inc;
- others: Phoenix Capital Group; Iron Horse, Royalties; Advanta Resources; Lynx Oil;
- mostly $1.00 / acre; some around $250 / acre bonus;
Ward:
- two-hundred-eleven
- almost all The Triple T, Inc
- Leomac, LLC (4);
- mostly $1.00 / acre bonus
- a few as high as $556 / acre bonus
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