Oil and Gas Lease Auction Brings in Over $340,000
October 9, 2019
(BILLINGS, Mont.) – The Bureau of Land Management (BLM) Montana/Dakotas raised over $340,000 in its quarterly oil and gas lease sale held online September 24. Nearly 50 percent of the revenue from the sale will go to the states where the oil and gas activity occurs – in this case Montana, North Dakota, and South Dakota – while the rest will go to the U.S. Treasury.
For this sale, BLM offered 13 parcels covering just over 7,800 acres in Montana, North Dakota, and South Dakota for oil and gas leasing through the competitive online auction. There were 29 registered bidders. All 13 parce...