THanks for the informative detail. I do know that Hess is the drilling as of Sept 17 where I have mineral interests. I am truly grateful to read as much in this blog as possible. It is a delightful task to read daily.
On Oct 5, 4:13 am, David <[EMAIL PROTECTED]> wrote: > 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 -- 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 -~----------~----~----~----~------~----~------~--~---
