North Dakota State Land Lease Results -- February 7, 2012

The full results of this sale are at this link (this is a new website for the ND Department of Trust Lands, so my old links won't work -- I will be updating them as I find them).

Data points:

• 70,000 acres in 14 western ND counties
• average payment: almost $7,900 in McKenzie County
• average payment: just over $1 in Grant County
• proceeds go into trust funds for ND education
• the largest trust fund has $1.6 billion for public schools
• estimate going in: $60 to $100 million
• actual: $85 million

Results from the source (first link above):

Divide County saw some hefty bonuses: $5,000/acre range.

Golden Valley is still "cheap" at less than $350/acre.

There were bonuses of almost $14,000/acre paid ($13,600 to be exact) in McKenzie County.

One tract in Mountrail County went for $10,000/acre.

Stark County saw several tracts go for $7,000/acre.

It looks like you can buy Ward County for $5/acre (some exceptions).

Williams is getting pricey at $11,000/acre, though some tracts went for as little as $200/acre.