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BLM oil, gas leases in ND fetch $11.4 million

BISMARCK, N.D. (AP) -- The Bureau of Land Management says its most recent sale of oil and gas leases in North Dakota totaled more than $11.4 million.

BLM says Slawson Exploration Co. Inc. of Wichita, Kan., had the highest bid in Wednesday's sale. The company bid nearly $1.6 million for an 80-acre parcel in Mountrail county.

The agency says 25 parcels totaling 2,831 acres were offered and all received bids.

Competitive oil and gas lease sales are conducted at the BLM's Montana state office in Billings. Money from the sales is shared with states and counties. All leases are issued for a 10-year term.