BLM oil, gas leases in Dakotas hit $3.3 million - KSFY News - Sioux Falls, SD News, Weather, Sports

BLM oil, gas leases in Dakotas hit $3.3 million

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BISMARCK, N.D. (AP) - The Bureau of Land Management says its most recent sale of oil and gas leases the Dakotas totaled more than $3.3 million.

BLM says Serka Services LLC of Vienna, Va., had the highest bid in Tuesday's sale: $880,000 for an 80-acre U.S. Forest Service parcel located in North Dakota's Billings County. Serka Services also had the highest per-acre bid of $11,000 for the same parcel.

BLM says 112 parcels totaling more than 48,000 acres were offered and all received bids. Nineteen parcels were located in North Dakota and 93 parcels in South Dakota.

Competitive oil and gas lease sales are conducted at the BLM's Montana state office in Billings. Money from the sales is shared with states and counties. All leases are issued for a 10-year term.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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