Hang in there. The royalty checks you will receive will be very nice. Seriously, the players in ND don ot include a couple of Giants but they do include companies such as
Marathon Hess Continental Whiting EOG Many of these listed are major as in S&P 500 sized companies, even if they have not yet made the Dow 30. They have both the sincere interest in the area and are big enough to be able to get the capital needed to develop the field. Here are the market caps and index memberships MRO 25.1 B S&P 500 HES 23 B S&P 500 CLR 4.93 B no index WLL 2.38 B no index EOG 20 B S&P 500 All of these companies have current market caps only about 60% from where they were at their peak a few months ago, perhaps less. In contrast, Exxon Mobil (XOM) has a market cap of 400 billion and Dow 30/S&P 500 membership An S&P 500 sized company has the capital needed to do the drilling properly and develop the field properly. The smaller companies can surely do a good job too, tho they might not have as many rigs drilling at once. Of course,a company like Whiting devotes a major share of its financial resources to th Bakken. The share of the total is substantial for a company like EOG but less as a percent of total company assets than for a Whiting or Continental. David On Oct 5, 12:20 am, niteman <[EMAIL PROTECTED]> wrote: > Back in the mid 90's when they were drilling in the Lodgepole around > my area (Dickinson) I was getting the same letters and offers, Not $3 > K per acre however. > tay tunSo these are not new just for the bakken. > > On Oct 4, 6:22 pm, Lostwood <[EMAIL PROTECTED]> wrote: > > > > > Yesterday, in the mail, I rec'd a letter of offer from 'Permian Basin > > Acquisition Fund' for $3 K p/mineral acre. Having been in touch with > > others who stand to bear from mineral acre ownership, I understand > > this is like to quote "Deal or No Deal" ND style.(quote plagerized > > from a brother) In other posts, I have noted, the questions asked > > "Where are the huge oil companies? Why aren't they making bids in the > > Bakken?” For the record, would the larger oil companies put up a fund > > like this, for $2,000,000.00, as this letter says, to get their finger > > in the mix? And, with great respect for individuals who are 'native' > > to ND, do these snake oil salesmen or carpetbaggers really expect you > > are so provincial? It reminds me of emailed Nigerian scams. I also > > understand that there is a great deal of disquiet among those who have > > no mineral acres and those who do. That there is action stonewalling > > the building of a pipeline to get this oil to refineries. That there > > is a cap on oil being pumped only because there is a limit on how much > > oil can be moved without a pipeline. I also understand that the oil > > production in the Bakken is now over that of Oklahoma. > > Are there other offers for mineral acres to expect, I have had two, > > coming? The oil reserves there, per the USGS report in April have > > inspired many to action. Not all of them legitimate. Most of them > > greedy. > > Obviously the oil forecasters know what the rest of the world knows or > > they wouldn't want these mineral acres so badly.- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Bakken Shale Discussion" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/bakken-shale-discussion?hl=en -~----------~----~----~----~------~----~------~--~---
