[IMR 4350]

$1.27 million for 40,000 acres?

Sounds like 6 companies got themselves a real good deal.

[Kackikat]

Exactly!

[MHGinTN]

Harry ‘the Mormon’ Reid feeds his criminal enterprise in Nevada.

[peeps36]

That $1.27 million doesn't include the millions in bribe money that was paid to obama and his cronies. The only thing this regime wants to drill is money for their own pockets. Well, that's beside all the drilling that goes on between Berry and Reggie.

[Smokin' Joe]

Sounds like 6 companies got themselves a real good deal.

Only if they get production. Otherwise, no.

Early leases let in the Bakken play were going for from $0.25 to 0.50 an acre. Much of the area had been drilled conventionally (vertical wells) and the usual producing formations had little to no porosity development. Keep in mind it was all highly experimental, and at that point, considered pure risk for the oil companies involved.

Still, Oil drilling/production has never really interfered with grazing. The Blackburn field north of Eureka was discovered partly because of natural oil seeps in stock (water) tanks.

[Smokin' Joe]

They don’t own the land, just the right to drill on it provided they jump through the rest of the BLM’s hoops. If they find anything, depending on the lease deal, the US gets the royalty interest of between 1/8 and 1/5 of the production, and then gets to tax the income the oil company makes off the rest. Leases are perishable, so the clock is ticking on that.