Montana Lease Sale Nets Only $11,921
Bids averaged $1.59 acre for oil and gas leases in two Montana counties that netted the state only $11,921.
Conducted by the Montana Dept. of Natural Resources and Conservation, the leases were offered in Blaine and Toole counties, with leases sold for 7,494 acres.
The highest bid was $8.00 an acre from Lonewolf Energy, Inc. of Billings for a 40-acre tract in Blaine County in Sec. 35, T34N-R19E.
Keesun Corp. of Cut Bank, MT paid $3.00/acre for 240 acres in Toole County in Sec. 234, T36N-R1W. Synergy Offshore LLC paid $2.00 an acre for 120 acres, also in Toole County, in Sec. 29, T35N-R4W.
All other bids were for the minimum amount of $1.50/acre.