WOW WYOMING LAND GRAB

[Irrelevant]

State paying Barclays $2.5 million for work on Occidental deal - WyoFile

The contract with Barclays emerged this week as lawmakers began to question Gov. Mark Gordon’s process to pursue the massive land purchase.

www.wyofile.com

 

[Buffs35]

Are there really over 1500 sections held by Occidental??

Edit: covered in the thread, i just caught up.

 

[AvidIndoorsman]

State paying Barclays $2.5 million for work on Occidental deal - WyoFile

The contract with Barclays emerged this week as lawmakers began to question Gov. Mark Gordon’s process to pursue the massive land purchase.

www.wyofile.com

Everything in that mirrors how the process would go down if another operator made the purchase instead of the state.

I haven’t been part of anything that was 1.5 B, I think the largest transaction we made was ~350mm that fee structure, while egregious, is what I would expect.

 

[SAJ-99]

I think I have been clear that I believe this is a good thing for hunters, but people need to be clear-eyed in this. The value is not in its use for outdoor activities. The value is in the resources that lie beneath. Regarding those, the world is changing at breakneck speed.

 

[BuzzH]

I think I have been clear that I believe this is a good thing for hunters, but people need to be clear-eyed in this. The value is not in its use for outdoor activities. The value is in the resources that lie beneath. Regarding those, the world is changing at breakneck speed.

...and surface values as well. No doubt grazing, wind, solar at a minimum.

 

[Irrelevant]

I think I have been clear that I believe this is a good thing for hunters, but people need to be clear-eyed in this. The value is not in its use for outdoor activities. The value is in the resources that lie beneath. Regarding those, the world is changing at breakneck speed.

I agree but the article also points out that existing WY legislators see wildlife value to it as well. I think it's hard to put a $$ figure on healthy wildlife

 

[VikingsGuy]

Everything in that mirrors how the process would go down if another operator made the purchase instead of the state.

I haven’t been part of anything that was 1.5 B, I think the largest transaction we made was ~350mm that fee structure, while egregious, is what I would expect.

Fairly standard - have seen bigger and smaller $$ for similar-sized deals.

 

[SAJ-99]

I agree but the article also points out that existing WY legislators see wildlife value to it as well. I think it's hard to put a $$ figure on healthy wildlife

I don’t think it is hard, but I do think that wildlife often lacks a representative that will do it. Maybe not in WY but MT certainly has a problem with that.

 

[KU_Geo]

Having worked all of this land for the for former owner, I can attest to the fact that the majority of the value is in the hard and energy minerals. What is good for the state at this point is that the value of those mineral fluctuates depending on the current market pricing. So if there was ever a time to buy a decent price, it’s right now.

Having personally done valuations of this entire asset several times, the values were always much higher then the current values being floated in the news. All of these were done in much better market conditions. No one is really selling these types of assets right now due to depressed values, but Oxy needs to due to their pending 2021 debt payments.

 

[KU_Geo]

I don’t think it is hard, but I do think that wildlife often lacks a representative that will do it. Maybe not in WY but MT certainly has a problem with that.

WY may see value in the wildlife but I can guarantee you that most of the folks evaluating this land are not putting value on the wildlife. Are they valuing the surface land real estate value, absolutely! Wildlife, no way.

 

[Irrelevant]

WY may see value in the wildlife but I can guarantee you that most of the folks evaluating this land are not putting value on the wildlife. Are they valuing the surface land real estate value, absolutely! Wildlife, no way.

That's unfortunate but not surprising.

 

[bullbugle307]

THIS is what troubles me...

For the record, I don't believe there is 1 million acres of landlocked state ground to sell off...we'd be having to sell accessible stuff.

The 2019 collaboration between OnX and TRCP identified 1.1 million acres of landlocked state lands in Wyoming.

 

[TN_Rifle_Junkie]

Having some knowledge of one of these groups, I would say that WY has a greater than average chance of squeezing the "O&G" company for a really good price for this land and will probably get it if they can put the deal together in relatively short order. The "company" is very overextended in the Permian Basin and GOM offshore work and "may be in a financial bind" to free up some capital. Hopefully this purchase will be for the betterment of not just the state of WY but also hunters in general. Returning private land to public hands can only be a win.

 

[88man]

Wyoming’s Bold Bid to Diversify Investments with Land Purchase is on Hold Occidental Petroleum Negotiating with Another Entity CHEYENNE, Wyo. – Occidental Petroleum has announced that it is negotiating with a bidder for the millions of acres of land grant properties offered for sale earlier this year in southern Wyoming. That bidder is not the State of Wyoming, but as these are only negotiations the situation could change. Governor Mark Gordon stressed that the state participated in the bid process to pursue a once-in- a-generation opportunity to purchase land for the public and diversify Wyoming’s investments. The land for sale included roughly 1 million acres of land, and 4 million acres in mineral rights. The announcement by Occidental also known as Oxy, is not final, so the State will keep its bid confidential at this time, until there is a final sale or Wyoming withdraws its bid. “I thank everyone who has supported this bid and provided feedback as we pursue this bold opportunity, which could be the biggest land purchase in state history,” Governor Gordon said. “We believe our bid positions Wyoming to generate additional investment revenue and would keep taxes low into the future. I greatly appreciate the willingness of Occidental to work with the State of Wyoming as a bidder.” The Governor’s office does not know the identity of the leading bidder nor the amount of the bid. --END--​

 

[Deleted member 18333]

My money is on Berkshire. But to be honest I am a crappy gambler.

 

[AvidIndoorsman]

My money is on Berkshire. But to be honest I am a crappy gambler.

They have been making some massive moves lately. Also land seems like a very buffet kinda move.

My guess is a subsidiary of LDS.

 

[Deleted member 18333]

My guess is a subsidiary of LDS.

They had their chance at this land in 1847. Just walked right on by.

 

[VikingsGuy]

They have been making some massive moves lately. Also land seems like a very buffet kinda move.

My guess is a subsidiary of LDS.

Sinopec would make for some interesting politics . . .

 

[SAJ-99]

They have been making some massive moves lately. Also land seems like a very buffet kinda move.

My guess is a subsidiary of LDS.

Marathon sold Speedway for $21B. No odds on them? I know they say they will pay down existing debt, but they always say that.

 

[AvidIndoorsman]

Marathon sold Speedway for $21B. No odds on them? I know they say they will pay down existing debt, but they always say that.

I guess I'm just skeptical of a OG player buying it given the terrible economics of the area, if you have the capital why not by something in the Permian or the Anadarko.