Interesting side note then ...
Remembering that SSN only had rights to certain formations i.e. not Bakken
Whiting Petroleum acquires ~55,000 net acres in the Williston Basin for $130 million from Oasis Petroleum. Appears to be OAS remaining Foreman Butte acreage which OAS classified as "lower-quality acreage (third-tier)". OAS/WPL say 1,290 boepd of production which if valued at $40K per boepd puts the land about $1,450 per acre (as mostly undeveloped). Total cost Production + Land = $50M + $80M = $130M
So then, TB just sold 1,000 bopd (not boepd)
If at $40K per boepd = $40M and the land at $0 per acre?
or
land at $1,450/acre = 51,305 x 1450 = $74M ... obviously land aint that valuable (being 3rd rate and all and not having the Bakken)
Let's say you sold it at what you said it was worth (cost + bargain gain) = ~$27M (I think) = $526/acre
Means you got $13M for 1,000 bopd of production ... or $13,000 per flowing bopd.
Bent over a barrel I thimk
