Auction Generates $129.9 Million, Highest Revenue in Office’s History

Efficient Markets is pleased to announce ongoing, record-breaking success of Bureau of Land Management’s (BLM) oil and gas lease sales with the Montana/Dakotas sale on July 14.

The BLM leased 63 parcels spanning 27,330 acres across Montana and North Dakota for $129,925,048 in total high bids, representing a nearly 200 percent increase from the previous sale. Activity was competitive, with 441 bids placed by 24 unique, financially vetted bidders. While the highest bid per acre of $10,402 was in-line with the BLM’s second quarter 2026 sale, the top bid per parcel of $15,381,254 was 60 percent higher.

The top three bidders paid a combined total of $112,414,118, or 87 percent of total bids, on 32 parcels covering 19,641 acres.

Salt Fork Exploration, L.L.C. was the top bidder by a significant margin, comprising 75 percent of total bids, or $96,962,294, for 14,707 acres spanning 17 parcels. Kraken Oil & Gas IV LLC paid $10,942,418 for 6 parcels covering 2,267 acres. Missouri River Royalty Corporation rounded out the top three bidders with total bids of $4,509,406 for 9 parcels across 2,668 acres.

“The magnitude of this sale highlights the ongoing industry demand for high-quality inventory and the success that is achieved with a transparent, structured, and efficient process. We’re appreciative of our partnership with the BLM, which furthers Efficient Markets’ support of the oil and gas industry through all real asset transactions,” said Gus Rivero, Chief Ventures Officer.

BLM lease sales are held online quarterly through Efficient Markets for each BLM state office. Oil and gas leases are awarded for 10-year terms with a 12.5 percent royalty rate. Upcoming government lease sales can be found on the Efficient Markets website at https://app.efficientmarkets.com/government-listings.

About Efficient Markets

Efficient Markets is the leading, tech-enabled marketplace that provides a streamlined transaction process for real asset acquisitions and divestitures across a wide range of industries, including oil and gas, government lease and sale listings, real estate, alternative energy, and other commodities. With more than 25 years of execution experience and over 56,000 registered users, we are recognized as market experts because of our deep industry knowledge, extensive relationships and unparalleled insight into the A&D market. Our platform empowers profitable growth by leveraging innovative technology and proprietary data insights with a dedicated team of experts, connecting buyers and sellers in a structured, competitive experience that targets speed, transparency, and successful outcomes. Efficient Markets consistently maximizes value and delivers strong results for transactions.

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