Missouri River Minerals Draw High North Dakota Bidding
Missouri River acreage in Dunn County pulled high bidding totaling $1.9 million with the highest bid of $6,000 posted for 15 acres at the Nov. 6 North Dakota oil and gas lease state sale.
The high bid came from Jeffrey Kendall Veigel of Rapid City, SD for the lease in Sec. 28, T150N-R93W.
Bids totaled $2,112,455, with bonuses averaging $262 an acre for leases on 8,045 acres in five counties. The five-day sale was conducted on EnergyNet.
The second highest bid came from Grey Rock Energy Partners, which paid $5,201/acre for 28 acres in Mountrail County along the Missouri River in Sec. 29, T150-R92W.
In Dunn County, Grey Rock also posted a high bid of $3,501/acre for 91 acres in Sec. 28, T150N-R93W and was high bidder at 3,001/acre for 8 acres in Sec. 27, T150N-R93W.
Lynx Oil Company of Denton, TX paid $2,501/acre for two tracts along the river in Dunn County. It was for 1.62 acres in Sec. 16, 150N-R91W and 61 acres in Sec. 36, T149N-R91W.
Grey Rock paid $2206/acre for four tracts totaling 257 acres in Sec. 27, T150N-R93W.
McKenzie County had only one tract totaling 160 acres in Sec. 16, T149N-R103W and Northern Energy Corp. of Bismarck, ND was the high bidder, paying $78/acre.
Other high bidders in Dunn County included Norra Resources LLC of Bismarck, which paid $2,206/acre for 54 acres in Sec. 26, T150N-R93W. Norra also paid the same amount for 29 acres in Sec. 25, T150N-R25W.
Vinnie Corp. of Minot, ND was high bidder at $1,201/acre for one acre in Sec. 12, T147N-R91W, while Iron Horse Royalties LLC paid the same amount for three acres in Sec. 34, T148N-R91W.