SHAWNEE, Okla. (AP) — Investors have paid more than $10 million in bids for assets involving oil and natural gas wells owned by the bankrupt St. Gregory's University in Shawnee as part of a court-ordered auction.

SHAWNEE, Okla. (AP) — Investors have paid more than $10 million in bids for assets involving oil and natural gas wells owned by the bankrupt St. Gregory's University in Shawnee as part of a court-ordered auction.

Bidders this week paid more than $10.2 million for minerals, royalties, overriding royalties and working interests involving nearly 1,700 properties the Shawnee university owned in 10 states..

"Techniques for extracting oil are more and more efficient ... and that makes the properties more valuable," said Robert Dauffenbach, director of the Center for Economic and Management Research at the University of Oklahoma's Price College of Business.

The auction was expected to raise about $3 million to help retire the university's debt, said Louis Dakil, owner of Dakil Auctioneers Inc. Dakil couldn't say Thursday whether the auction's results allow the school's bankruptcy trustee to successfully retire the $14 million in debt owed to creditors.

"The main asset left that Dakil has listed is the campus," said John Mashburn, the trustee. "We can't predict what that will bring, but we are feeling really confident we are in very good shape to pay all the claims, in full, with its sale and the auction's proceeds."

The sale of St. Gregory's oil and gas interests and mineral rights were ordered by a judge overseeing the university's bankruptcy. The sale followed an auction earlier this month where Dakil sold physical items owned by the university, including fitness equipment, computers and rare books. That auction and an associated sale involving the university's vehicles raised about $350,000.

St. Gregory's was Oklahoma's oldest higher education institution and the state's only Roman Catholic university. It closed last year amid financial troubles.