- Associated Press - Wednesday, November 4, 2015

BISMARCK, N.D. (AP) - A quarterly state auction for oil drilling rights on North Dakota state land has fetched nearly $8.5 million.

The Bismarck Tribune reports (https://bit.ly/1H6A0M6 ) that more than 10,500 mineral acres in nine counties were auctioned Tuesday at the state Capitol.

A total of 340 acres were auctioned for over $3.6 million in Mountrail County. About 245 acres went for almost $2.3 million in Dunn County.

The auction brought in the largest total of bonus payments since May 2014, when the state collected $16.6 million from 18,240 mineral acres in 13 counties. State Land Commissioner Lance Gaebe says that’s a positive sign amid low oil prices.

Money from the auctions is placed into several state trust funds for areas including education.

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Information from: Bismarck Tribune, https://www.bismarcktribune.com

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