North Dakota Owned Minerals Projected to Generate $8 Billion in Future Royalty Payments

(Photo by Kyle Martin/For the North Dakota Monitor)

(North Dakota Monitor) – State-owned minerals are projected to generate $8.4 billion in future oil and gas royalties over the life of North Dakota oil production, benefiting K-12 education, according to an annual analysis.

The projected royalties’ benefit to the Common Schools Trust Fund, as well as emerging innovations in the industry driving productivity despite low oil prices, are positive trends for state officials who received the update last week.

“This is always my favorite board meeting,” said Michael Howe, North Dakota secretary of state and a member of the Board of University and School Lands. “It makes me excited for the future.”

Joel Brown with Mineral Tracker, a subsidiary of First International Bank and Trust that performed the analysis, said he observed several promising developments in the oil and gas industry.