Business | Trust

Osage Nation hosts public auction for mineral estate leasing

The Osage Nation of Oklahoma drew in some big bids for mineral leases at a public auction on Wednesday.

The tribe and the Bureau of Indian Affairs solicited bids for 18-month leases of the tribe's oil and gas estate. Some went as high as $60,000, The Tulsa World reported.

"This makes it as open as possible to oil producers, to make it more competitive," Chief John Red Eagle told the paper.

The auction took place during the 2011 Osage Oil & Gas Summit, which concludes today.

Get the Story:
Auction action (The Tulsa World 11/10)

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