Dunn County Posts High $300/Acre Bid At ND State Sale
Two Dunn County tracts posted the highest bids at the North Dakota state oil and gas lease sale, which brought in bonuses totaling $1,100,668, with bids averaging $52.55 an acre for leases on 20,944 acres in a dozen counties.
BIP Energy of Denver posted the highest bid at $300 an acre for 80 acres in Dunn County in Sec. 36-T146W-R92N, followed by a high bid of $291/acre from Beta Land Services of Lafayette, LA for 80 acres in Sec. 35, T146-R92W.
The North Dakota Dept. of Trust Lands conducted the week long sale ending May 7 through EnergyNet, with 32 bidders participating.
McKenzie County also pulled in high bids led by SoloCorp. of Bismarck, ND, which paid $223/acre for eight acres in Sec. 24, T145N-R99W.
In the same county, Northern Energy Corp. of Bismarck paid $231/acre for 20 acres in Sec. 30, T148N-R100W and $211/acre for eight acres in Sec. 20, T147N-R102W.
Lynx Oil Company of Midland, TX was high bidder at $221/acre for 40 acres in Sec. 29, T148N-R100W, and also paid $137/acre for eight acres in Sec. 20, T147N-R102W.
Bids in McKenzie County averaged $70/acre, bringing in $41,228 for leases on 732 acres, but Williams County bids averaged $104 an acre for total bonuses of $66,500 for leases on 640 acres.
In Williams County, Triple T, Inc. posted the high bid of $221/acre for 160 acres in Sec. 16, T157N-103W, and also paid $53/acre for 160 acres in the same section.
Northern Energy Corp. of Bismarck paid $72/acre for a 160-acre parcel and $70/acre for a 160-acre parcel, both in Sec. 16, T157-R103W.
In Divide County, Norra Resources LLC was the high bidder, paying $157/acre for eight acres in Sec.35-T162N-101W. Total bids averaged $74/acre for 188 acres, with bonuses totaling $14,103.
In Mountrail County, where bids averaged $87/acre, Advanta Resources LLC of Ross, ND posed the highest bid of $281/acre for eight acres in Sec. 12, T153N-R89W. Advanta also paid $281/acre for eight acres in Sec.24, T153N-R89W.
With leases on 5,532 acres in Mountrail County, Woodstone Resources, LLC of Houston dominated most of the high bids, paying $116 to $118/acre for several tracts.