The November oil and gas lease auction held by the North Dakota Department of Trust Lands Minerals Management Division drew bids on 100 separate parcels in nine western North Dakota counties, with nearly half the acreage in McKenzie County. The total sales came to nearly $19 million, or an average of $1,998 per acre. The high bid was $15,300 per acre for 5.03 acres in McKenzie County by Diamond Resources, which also bid between $5000 and $8400 per acre for additional parcels in McKenzie totaling approximately 1,970 acres. The next state lease auction is tentatively scheduled for February 5, 2013. Read more
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