BILLINGS, MONT - As part of President Barack Obama’s all-of-the-above strategy to continue to expand safe and responsible domestic energy production, the Bureau of Land Management sold six federal leases on Tuesday.

The oil and gas lease auction netted more than $36,800 in revenues, around 1,600 acres of that from land in North Dakota.

BTA Oil Producers, LLC - a company based out of Texas - submitted the highest per-acre bid at $110 for a 120-acre parcel located in Golden Valley County.

The bid came in at $13,200, the highest single-parcel offer.

BLM oil and gas leases are awarded for a period of 10 years and as far into the future as there is production in paying quantities

Revenue collected from the sale of leases, as well as 12.5 percent royalties collected from the production of those leases, is shared between the federal government and the state.

The next Montana/Dakotas federal oil and gas lease sale is scheduled for Jan. 26 at BLM’s Montana State Office.

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