Edmond’s EK Energy and Exploration Company was the high bidder for the June sale of mineral rights to 880 acres of Blaine county land at a price of nearly $17 million dollars.
The June 20 auction was handled by Farm Service Company of Chickasha where spokesman Cody J. White indicated the sale involved 5 separate tracks of land.
“We closed the mineral sale on Aug. 7th,” he said in an email notice to OK Energy Today. “It sold as one tract to EK Explorations, LLC for $16,800,049 which was the high bid at the sealed bid auction.”
He indicated there were initially 10 bidders but on different tracts. Only two bids were for the entire package.
The sale figures to be $19,090 an acre for the drilling rights.
EK Explorations LLC or EK Energy is an independent oil an gas company headquartered in Edmond. It focuses mainly on finding oil and gas reserves in Oklahoma’s Anadarko Basin.