[vampyregirl]

Energy producers are buying up Crown leases and drilling rights in southern Saskatchewan at a rapid pace, setting unprecedented land sales. So far this year the province has taken in more than $605 million Canadian. The Ministry of Energy and Resources says it shows the huge potential of the Canadian side of the Bakken formation.
So what is going on on the American side?

[joeltrout]

Just google Bakken, Marcellus, Haynesville, Roan Plateau, etc...

Plenty of leasing going on in the US.

I personally have negotiated more oil and gas leases in July than I did in all of 2007. Areas that we have not leased in literally 80 years are getting leased because companies are struggling to replace reserves and searching in places "far outside the fairway".

It has been a good year.

joeltrout

[Cashmere]

Just google Bakken, Marcellus, Haynesville, Roan Plateau, etc...

Plenty of leasing going on in the US.

I personally have negotiated more oil and gas leases in July than I did in all of 2007. Areas that we have not leased in literally 80 years are getting leased because companies are struggling to replace reserves and searching in places "far outside the fairway".

It has been a good year.

joeltrout

Hearing that from an insider is like hearing a mortician happily stating that it's been a good year.

[joeltrout]

We have an expression here at PO about 'low-hanging fruit.' After you've picked the good ones, shaked the branches, and scrouged around on the ground, you give up or get a latter.

My point exactly. Here in California the public companies are getting more and more desperate to find any new plays no matter how small.

Many of the small independents in CA are sitting back and just producing what they already have. Exploration for them is way too costly because 2 or 3 dry holes could break them. So they can't be spending millions on mass leasing, 3-d seismic, and/or drilling wildcat wells.

joeltrout