Associated Press, Published May 10 2012
BLM lease sale brings $3.9 million in Montana, DakotasBILLINGS, Mont. — A recent sale of oil and gas leases on federal lands in Montana, North Dakota and South Dakota brought in $3.9 million in bonus bids.
The Bureau of Land Management said Wednesday that 151 parcels in the three states received bids in the agency's May 8 auction. All but two of the parcels are in Montana.
The highest single-parcel bid was $238,400 for a 596-acre parcel in Richland County.
The highest per-acre bid, at $2,800, also came on a parcel in Richland County. The rural county along the North Dakota border is located in the heart of the booming Bakken formation oil fields.
The leases are good for ten years after they are issued.
Copyright 2012 The Associated Press.