Saturday, November 5, 2022

Quarterly Lease Sales -- November, 2022

Link here.

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:

  • 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
Link here. May, 2019 -- online.

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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