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ND oil lease sale raises $7M for school trust

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November 7, 2013 10:35 AM EST | AP


BISMARCK, N.D. (AP) — An auction for the rights to drill for oil on North Dakota state lands has raised $7 million.

The state Department of Trust Lands auctioned exploration rights to 6,869 acres in eight western North Dakota counties this week in Bismarck

The average payment ranged from $1 per acre in Slope County to $9,300 per acre in McKenzie County.

The money goes into trust funds that benefit education in North Dakota

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