BILLINGS — Montana officials say companies paid an average of $1.50 per acre during a sale of state-owned mineral rights for oil and gas exploration.
The Department of Natural Resources and Conservation says more than 35,000 acres were leased in Tuesday’s sale. Total revenue from the 78 tracts sold was less than $53,000.
The leases included parcels in Custer, Daniels, Dawson, Garfield, Petroleum and Prairie Counties.
The next lease sale is scheduled for June 2.
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