At the quarterly Montana oil and gas lease sale held on September 1, there were 16 tracts totaling 7,071.02 acres that went for auction.
Six parcels, totaling 2,877 acres, were located in Dawson County. Primary Fuels picked up 1,597 acres, four parcels, for the nominating price of $.50 per acre.
Energy Land Services took 1,280 acres for $1.75 per acre.
In Toole County, the bargains were a little harder to find. Bidder Tom E. Swanson picked up three parcels – 640, 320 and 640 acres, for the nominating rate of $1.50 per acre. Swanson also acquired 234.02 acres for $21.00 per acre; 320 acres for $21.00 per acre and 640 acres for $31.00 per acre. Another 200 acres went to Swanson for $6.00 per acre.
NorthWestern Energy picked up three parcels. NWE paid $25.00 per acre for 640 acres located at 37.N 4.W 16; $41.00 per acre for 160 acres located at 37.N 4.W 30 NE4, and the top dollar parcel went to NWE when they were the high bidder for 400 acres at 37.N 4.W 32 W2, W2SE4, which fetched $50 per acre.
Nearby, is the Cobb Unit 4 well, was drilled by Union Oil Company of California. Drilling commenced on December 30, 1949 and was completed on February 24, 1950.
The Cobb 4 well recorded an initial production of 17,800,000 cubic feet of gas per day, with a pressure of 610 PSI. A note in the well file dated June 17, 1994, reports that the well was being operated as a gas storage well. The Cobb Unit 4 is now listed as a gas storage well, currently operated by NorthWestern Energy, as are several other wells nearby.