Montana Land Board Approves $4.5 Million Oil and Gas Lease Sale

HELENA, Mont. — The Montana Land Board unanimously approved oil and gas lease sales in four counties during its March meeting, generating more than $4.5 million in revenue for the state.

The lease sales included tracts in Blaine, Richland, Roosevelt, and Toole counties. According to the Department of Natural Resources and Conservation (DNRC), one tract in Richland County received a bid of nearly $2 million, with a per-acre price exceeding $10,000—one of the highest recorded in state lease sales.

In total, the meeting resulted in an estimated $5.1 million in revenue for Montana’s trust beneficiaries. “These lease sales continue to generate critical funding for Montana schools and other public institutions,” said Secretary of State Christi Jacobsen in a press release.

The board also approved three timber sales and infrastructure improvements, including road and power line projects. The Land Board has taken similar action in recent months, including the approval of timber sales in Beaverhead, Flathead, and Sanders counties in February, which were projected to generate $650,000 for state trusts.