BISMARCK, N.D. - The Bureau of Land Management says its most recent sale of oil and gas leases in North Dakota, South Dakota and Montana totaled more than $22.6 million.
BLM officials said Contex Energy had the highest bid of Tuesday's sale. The Dickinson, N.D., company bid $5.4 million for leasing rights on a 1,600-acre parcel in Mountrail County. Contex Energy also had the highest per-acre bid of $3,600 for a 1,120-acre parcel in Mountrail County
Of the 78 parcels offered, 17 were in Montana, 47 were in North Dakota and 16 were in South Dakota. The BLM said all parcels save for one in South Dakota got bids.
Competitive oil and gas lease sales are conducted at the BLM's Montana state office in Billings. Money from the sales is shared with states and counties. All leases are issued for a 10-year term.