A sale of oil and gas leases on Indian lands of the Blackfeet Reservation in northern Montana which brought in high bonuses totaling over $200,000 for the Indian landowners was announced today by the Department of the Interior.
The bids were opened at Browning, Montana, August 24. Bids were received on 51 tracts totaling 13,770 acres. The total of the high bids on 33 tracts of tribal land amounted to $193,444.10. On 18 tracts owned by individual Indians high bonus offerings totaled $19,645.05.
The highest amount per acre bid on any one tract was $52.48.
The Blackfeet Tribal Council has voted to accept the bids on the tribal lands. Action on the others will be up to the individual landowners.
In addition to the bonuses, the Indian lessors will receive annual rentals of $1.25 per acre and royalties of 12 1/2 percent on the oil and gas produced.
