Here & Now Here & Now

Support the news

Bids At North Dakota Mineral Auction Reflect Price Of Oil03:54
Download

Play
Before drilling on state or federal lands, oil companies must win the right to drill at a mineral auction. A recent state mineral auction in North Dakota and federal auction in Wyoming brought in the lowest amount of money in years. (WildEarth Guardians/Flickr)
Before drilling on state or federal lands, oil companies must win the right to drill at a mineral auction. A recent state mineral auction in North Dakota and federal auction in Wyoming brought in the lowest amount of money in years. (WildEarth Guardians/Flickr)
This article is more than 5 years old.

At the height of the U.S. oil boom, less than a year ago, it wasn’t uncommon for an oil company to pay over $10,000 an acre to drill on state land in North Dakota’s Bakken oil field. But since oil prices have crashed, so has that mineral windfall.

As Emily Guerin from Here & Now contributor Inside Energy reports, recent state mineral auctions in North Dakota have seen the lowest prices since the oil boom began in 2007.

Reporter

This segment aired on May 20, 2015.

Support the news

+Join the discussion
TwitterfacebookEmail

Support the news