What happened to lease values at the August ND Auction? Billings Co avg was $20.acre!!!???
The McKenzie Co avg. @ 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 Co.
Kudos to Cymbaluk who is using his recent royalties to aquire 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 Co. $1000+ but still off previous auction. McKenzie Co. and Stark Co, have had some nice hits recently
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.
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 ($30000+/acre in McKenzie Co) compared to last weeks 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 organised to be easlily searchable, there are alot of wells reporting, but it can be done.
Jill said:
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,