Locator: 48485B.
Quarterly leases results, link here. At that link, scroll down to "auction results."
Quarterly lease results, August 2024, link here. Below is a screenshot of part of page six (6) from a seven-page report. The typical bonus for a mineral acre in the Bakken is in the $2 - $16 range. "Good" areas will get bonuses of $100 to $300. I seldom see bonuses greater than $1,000 per acre. That puts the bonuses in the screenshot below in perspective.
There were four parcels bid on in section 36-145-98: NE, NW, SE, SW.
Petro-Hunt and Phoenix Capital Group are willing to pay a bonus of upwards of $5,000 / acre. Seldom do I see bonuses that high.
So, I was curious, where is section 36-145-98? See this map:
Note: there is only one producing well sited in that section, and that well is only sited there. The production from that well is coming from the south, not from the section in which the well is actually sited. There are no horizontal wells in section 145-98-36. Hopefully folks can put "2+2+ together.
So, what well is that well that is sited there, in the far southeast corner of 145-98-36?
Zabolotny?
That sounded familiar. A long time ago a reader sent me this, a screenshot from her deed, because the reader had a question about the Zabolotny well:
I'll stop there for now and send the reader this link and begin a discussion if the reader has questions.
The new wells are not likely to be named Zabolotny wells. They could have that name, but more than likely they will have new names.
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How Much Was The Winning Bid?
Each of the four parcels above were for eighty (80) acres.
Rounding, $5,000/acre x 80 acres = 8 * 5 * 1,0000 == 40 x 1,000 = 4 x 10,000 = $400,000.
At $50 / bbl, that works out to 8,000 bbls -- assuming all the math is correct -- or around $1.5 million for 320 acres, or $3.0 million for one mineral section (640 acres). Again, I often make simply arithmetic errors. Feel free to fact check. Yes, not all parcels had a bonus of $5,000 / acre. But it certainly suggests operators have a feeling there will be some great wells in this area.
That Zabolotny well, #37987, see this post:
- 37987, loc/A,
Petro-Hunt, Zabolotny 144-98-4A-9-1H, Little Knife, this is very, very
exciting for at least one reader; a reader notified me of this permit
some time ago; permitted November 20, 2020; and, now its producing oil; the Zabolotny wells are tracked here; t8/21; cum 260K 2/25;
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 8-2021 | 12394 | 11385 |
| 7-2021 | 458 | 25 |
