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Cut out the middleman and drill it yourself (diy)?
Posted by bakkenIn my previous post titled Bakken Message Board Musings, I discussed chatter of people owning mineral rights and converting that into a source of income. For some reason I couldn’t shake the thought and started doing some research. I did find a website called bakkenoil.com that seems to trade in Bakken properties, but after registering and browsing, the number of properties look to be under 10 and a few of those don’t look legitimate (I’ll keep checking though). I then expanded my search to other sites, and lo-and-behold, i was able to actually find someone selling an interest in a well in Lafayette Parrish, Louisiana on Ebay! If you are interested in bidding, click here to see the auction in action. For $6375 you can a own a 0.0000848 interest in a well operated by Royal Production Inc. However, at $85 per month in royalty income…….don’t quit your day job.
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Tags: auction bakken ebay mineral rights royalty
Hmm a 6.25 year payback at current levels of production is pretty awful (wells diminish production over time too) and I’m not aware of any Bakken production in Louisiana. We are primarily a consulting firm, but we do allow people to post their mineral interests for sale/lease on our site for a fee. For these properties we simply act as an advertising vehicle, we make no representations as to the seller’s claims.
There is no bakken production in Louisiana, it was merely an attempt to see if there was a direct way for a regular investor to obtain NRI on wells and it seems like there is. Thanks for the info!
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