The SITLA Oil and Gas, and Minerals groups held their quarterly lease sale October 28, generating more than $3.2 million for beneficiaries. The Oil and Gas Group leased 36,765 acres for a total of $3.2 million and the Minerals Group leased 2,123 acres for $35,489. This is a sealed-bid auction for lessees to acquire either oil and gas leases, or mineral leases for specific commodities. Most of these leases are on lands managed by SITLA on behalf of public schools, which means lease funds will be added to the Permanent School Fund and invested by the state treasurer. The balance of the revenue will be distributed to other beneficiaries, such as teaching colleges, Utah Schools for the Deaf and Blind, and used at the discretion of each individual beneficiary.