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LINCOLN, Neb.—A scramble for oil in Wyoming and Colorado is spilling over into western Nebraska, and that state’s public schools will benefit from the gush of money.
Officials with the Nebraska Board of Educational Lands and Funds say an oil and gas lease sale it held about two weeks ago attracted record-high bids totaling more than $1.9 million. Almost all the leases are for exploration in the western edge of the Panhandle near the Wyoming and Colorado borders.
The highest bids were for leases in Kimball and Banner Counties.
The $1.9 million is nearly four times the previous record of $539,000, set two years ago.
Record-setting bids were also recently set in Colorado and Wyoming.
