North Dakota’s August 7 oil and gas lease auction collected $11.682 million in bonus bids, according to a Petroleum News report out today. A Turkish company, Serka Services LLC, reportedly paid $10,500 per acre for 22.5 acres in McKenzie County, the highest bid per acre. According to the report, the same company paid $11,000 per acre for an 80-acre U.S. Forest Service parcel in North Dakota’s Billings County at the Bureau of Land Management lease auction on July 17. Petroleum News also reports that Denver-based Kodiak Oil & Gas had the winning bid of $7,003 per acre for an 80-acre parcel in Williams County in the state's online auction held on Aug.16. Read more...
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