(Helena) – The Montana State Board of Land Commissioners approved on Monday, an oil and gas lease sale that will inject more than two-point-one million dollars into the state’s public education fund.
Governor Greg Gianforte announced the approval of twelve tracts across Musselshell, Sheridan, and Toole (Tool) counties.
A single tract in Sheridan County generated the vast majority of the revenue, bringing in more than two-point-one million dollars alone.
Officials credit the windfall to modern horizontal drilling technology, which opens wide underground layers from a single surface location. The state will also secure additional ongoing royalty revenues if these leases successfully transition into future oil and gas production.
