Minerals Council

Minerals Council has another lucrative lease sale

The Osage Minerals Council had yet another lucrative lease sale, selling more than $910,000 in oil and gas leases Feb. 16.

A crowd of more than 70 attended the OMC’s lease sale, held at the Wah Zha Zhi Cultural Center. The OMC’s previous lease sale, held at the Hyatt Regency in downtown Tulsa for its 10th Annual Osage Oil and Gas Summit Oct. 27, had more attendees but the Feb. 16 sale sold more than $45,460 in leases.

A total of 12,320 acres sold for $910,400 in oil and gas leases, which is an average of $73.90 per acre. A total of 160 acres sold for $2,750 in oil leases, which is an average of $17.19 per acre. The total acreage sold was 12,480 with a total sale of $913,150 in leases.