BELCOURT The Bureau of Indian Affairs Turtle Mountain Agency is getting ready to hold a sale of oil and gas leases on nearly 45,000 acres of allotted Indian lands in Rolette County.
Agency officials said one of the reasons for the sale is to see how much interest there is from the oil and gas industry.
The sale is set for Dec. 14 at 3 p.m. in the Turtle Mountain Agency Office in Belcourt.
The agency is taking sealed bids on the 521 tracts of trust land. The sale specifically is for 44,997.12 net acres of allotted lands or individually-owned trust lands.
According to Turtle Mountain Agency information, the leases will be sold to the bidder offering the highest money bonus for each tract for a term of five years from the date of approval by the BIA superintendent or authorized representative and as long after as there is oil and/or gas produced in paying quantities. The royalty rate is 18 percent. Besides the bonus offer, each lessee will pay annual rental in advance of $3 per acre.
Legal notices for the oil and gas sale are being published in Rolette County and area newspapers.