Bakken Land PricesPetroFrontier has equated the Southern Georgina Basin "Hot Shales" to the Bakken.
Two Bakken related articles out today:
Quote:
In my analysis, the acquisition implies a purchase price of over $40,000 per undeveloped acre which is record setting for the play.
https://seekingalpha.com/article/829861-qep-resources-pays-estimated-6-million-per-drilling-location-in-the-williston-basin?source=email_alternative_energy_investing&ifp=0
Quote:
We estimate that QEP paid $50,000 per net acre, $131,429 per flowing BOEPD and $11.04 per 3P reserves.
https://seekingalpha.com/article/831381-qep-resources-takes-a-bigger-bite-of-bakken?source=email_alternative_energy_investing&ifp=0
After the Statoil farm-in is fully implemented, PFC's net acreage position will be 35% of 13.6 mm acres = 4.76 mm.
Just imagine if some of these acres become as valuable as the above Bakken acres!
Heck, an average selling price of $1,000 an acre would be $4,760,000,000, yes, $4.76 Billion!
Please PetroFrontier, show us the oil and gas!
JB