BISMARCK, N.D. (AP) - A quarterly state auction for oil drilling rights on North Dakota state land will be held online.
The Bismarck Tribune reports (https://bit.ly/1YWjXEv ) that the auction will be held on Tuesday at www.energynet.com .
State Land Commissioner Lance Gaebe says the department has dabbled in online auctions in-between the quarterly auctions. He says the online auction Tuesday is being done as a test and future auctions will be determined on a case-by-case basis.
Auctions historically have been held at the state Capitol in Bismarck or in Medora.
Tuesday’s auction will have 6,358 acres in Bottineau, Burke, Divide, Emmons, McKenzie, Mountrail and Williams counties.
The state shares royalty income from producing oil wells. Most of the income is paid to a pair of state trust funds that benefit schools and special projects.
Information from: Bismarck Tribune, https://www.bismarcktribune.com
Copyright © 2021 The Washington Times, LLC.