Oil & Gas Lease Sale in Montana, North Dakota Nets $3.4M
Oil and gas leases run for 10 years, and the federal government receives 16.67% in royalties from oil and gas production.
An oil and gas lease sale in Montana and North Dakota by the Bureau of Land Management netted $3,413,797 for 11 parcels totaling just over 4,266 acres.
The revenue from the sale will be split between the two states and the federal government.
Oil and gas leases run for 10 years, and the federal government receives 16.67% in royalties from oil and gas production.
These lease sales assist in meeting the energy needs of Americans across the country and increase domestic energy production.
You can read the full press release and find information on upcoming Bureau of Land Management leases on the bureau’s website.
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