What happened to lease values at the August ND Auction? Billings County average was $20 per acre!!!???
The McKenzie County average @ $6400/acre?
Andy,
I too am surprised that the leases went that low ($10, $20, and $30 per acre). However, we’re seeing the old “Location, location, location.” In other words, the southern portions of Billings County are completely unproven.
Whiting has drilled some great wells in 140-100 & 140-99. However, the recent state leases with these low ball prices were down in 138-100 and 137-100. It’s believed somewhere south of 140N is the “line of death” separating the producing areas from the non-producing ones. These prices suggest that the speculation appears to think that line is somewhere north of 138N.
Whiting has also had a few good ones in 139-99 in Stark County.
Kudos to Cymbaluk who is using his recent royalties to acquire his own new leases.
Eastern MT said:
Andy,
I too am surprised that the leases went that low ($10, $20, and $30 per acre). However, we’re seeing the old “Location, location, location.” In other words, the southern portions of Billings County are completely unproven.
Whiting has drilled some great wells in 140-100 & 140-99. However, the recent state leases with these low ball prices were down in 138-100 and 137-100. It’s believed somewhere south of 140N is the “line of death” separating the producing areas from the non-producing ones. These prices suggest that the speculation appears to think that line is somewhere north of 138N.
November auction has done better. Lease in the north of Billings County $1,000+ but still off previous auction. McKenzie County and Stark County have had some nice hits recently.
Andy,
I too am surprised that the leases went that low ($10, $20, and $30 per acre). However, we’re seeing the old “Location, location, location.” In other words, the southern portions of Billings County are completely unproven.
Whiting has drilled some great wells in 140-100 and 140-99. However, the recent state leases with these low ball prices were down in 138-100 and 137-100. It’s believed somewhere south of 140N is the “line of death” separating the producing areas from the non-producing ones. These prices suggest that the speculation appears to think that line is somewhere north of 138N.
Where do we access information that a well is great? My family is in Sec. 12, 139-100 and Whiting is drilling. It went to confidential on the dmr site and I've heard they are in production. I've read where we can access the Oil Company's production but I can't recall where to do that. Thanks,
STUNNING DISPARITY between Federal Lease Auction in January ($30,000+/acre in McKenzie County) compared to last week’s ND State Auction bonuses - avg $335/acre for the state!!! Could anyone offer a reason for the disparity? Also, why are the bonuses for last week so low? Was it a particularly cold day?
Jill, they must have liked it to drill 3 wells simultaneously. I think what you are looking for is the GENERAL STATISTICS on the NDIC O&G site. Unfortunately, they run about a month and a half behind and then it isn’t really organized to be easily searchable. There are a lot of wells reporting, but it can be done.
Jill said:
Where do we access information that a well is great? My family is in Section 12, Township 139-Range 100 and Whiting is drilling. It went to confidential on the DMR site and I’ve heard they are in production. I’ve read where we can access the Oil Company’s production but I can’t recall where to do that. Thanks,