April 3, 2012 · By Newswire · 0 Comments
Office of School and Public Lands
500 E. Capitol Ave.
Pierre, SD 57501
Tuesday, April 3, 2012
FOR IMMEDIATE RELEASE
CONTACT: Justin M. Ohleen, 605-773-3303
PIERRE – The Office of School and Public Lands completed its first oil & gas lease auction of 2012 today at the State Capitol. A total of 75,289 acres of state trust lands were nominated and leased. Those new leases will account for $452,289 of revenues for South Dakota’s public schools and endowed institutions.
“This auction was a significant event,” said Commissioner of School and Public Lands Jarrod Johnson. “We leased nearly 67,000 mineral acres at our auction last fall, so to follow that with more than 75,000 acres today is exciting. We are very pleased with the large number of acres leased, and the competitive bidding that many of the tracts received.”
“We are always hopeful this leads to new production,” Johnson added. “Nearly 60% of the oil and gas produced in South Dakota comes from mineral acres leased through the Office. Increased production from these trust lands means more money for our school kids across the state.”
Commissioner Johnson and his staff of five are responsible for the management of South Dakota’s school and endowment lands, which encompass more than 750,000 acres of surface ground and 5.2 million acres of mineral rights.
Full results of the Spring 2012 oil & gas lease auction and additional information about the Office of School and Public Lands are available online at www.sdpubliclands.com.
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