NORTH DAKOTA RECEIVES MILLION IN OIL ROYALTIES. | KXNet.com North Dakota News
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NORTH DAKOTA RECEIVES MILLION IN OIL ROYALTIES.Oct 16 2004 12:00AM
http://www.kxmb.com/ Lynn Helms is the state oil and Gas Division director. He says skyrocketing oil prices could mean a record payout of at least nine (m) million-dollars next year. That's because North Dakota sweet crude hit an all-time high of 49-dollars-and-30 cents a barrel on Thursday. Patrick Etchart is a spokesman for the U-S Minerals Management Service. He says the agency collects royalties from energy production on federal land and splits the money with the state where it occurs. The agency says royalties paid to American Indian tribes and landowners in North Dakota in fiscal year 2003 was 421-thousand-500 dollars. That's up from about 353-thousand dollars the year before. Helms says soaring oil prices has spurred activity in North Dakota's oil patch. He says there are 33-hundred-and-18 wells operating in the state, compared to 32-hundred-93 a year ago. |
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