Bakken Resources Inc. sold 767 net acres in McKenzie County, ND to an undisclosed buyer in early February 2014.
Total purchase price for the acreage was $7,871,248. That comes out to $10,250 per net mineral acre.
Notable Bakken Acquisitions and Divestitures in January 2014
So far in 2014, there have been at least two other acreage deals in the Bakken.
Emerald Oil acquired 20,800 net acres in the Williston Basin for $74.6 million in two separate deals in early January.
Read more: Emerald Acquires Bakken Acreage in the Williston for $74.6 Million
Oasis had a $333 million sale in January of its’ non-operated Sanish properties and a few non-operated leases adjacent to the Sanish.
Read more: Oasis Sells Bakken Acreage - Strong Production Growth in 2014
Bakken Resources Gains ~412% Return on Investment
With the closing of its' acreage deal, Bakken Resources gains a ~412% percent return on its original investment. In November of 2010, the company spent $1,535,000 for the 767 net acres in McKenzie County.
Bakken Resources will retain a 2% royalty interest in the sold assets.