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