Bid/Ask Gap In Big Permian Land Auction Exemplifies The Need For A Broad Reset Of Expectations

Infill Thinking readers may recall this update from October on a big Permian land auction of 13,500 acres with historical significance. This ranch has a rich O&G history dating back to the 1920s, when Gulf Oil bought leases to the ranch. From the 1920s onwards, it helped make the fortunes of some of the powerful Fort Worth old money families (i.e. Bass and Richardson).

Today, it sits in a prime location for infrastructure development, but in a sign of the times, the October auction…

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