Panel takes no action on energy company settlement offers

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BISMARCK, N.D. (AP) — A panel led by Republican North Dakota Gov. Doug Burgum has taken no action on settlement offers from some of the energy companies that owe the state for unpaid oil and gas royalties.

The Land Board met with lawyers Thursday to discuss the settlement offers.

Land Commissioner Jodi Smith says the money owed to the state is in “the hundreds of millions” of dollars and most would be used to benefit public education.

Burgum signed legislation this year that reduces the amount of interest and penalties the state can charge companies for unpaid royalties.

Burgum has declined to comment on the offers.

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