U.S. DEPARTMENT OF THE INTERIORBUREAU OF LAND MANAGEMENT
For Release: September 13, 2006
BLM Oil and Gas Lease Auction Tops $700,000
BAKERSFIELD - Seven oil and gas lease parcels in Fresno and Kings counties were auctioned for a total of $795,412, including administrative fees, by the Bureau of Land Management’s Bakersfield Field Office Wednesday.
Western States International, Monrovia, was the per-acre high bidder at $2,500 per acre for a 201-acre lease in Kern County. Western States also was the highest bidder by total at $505,000.
There were no bids on 10 of the 17 parcels offered.
Results by parcels that received bids were:
BLM is required by law to periodically offer federal lands for lease for oil and gas exploration and development. The oil and gas industry is encouraged to submit an "expression of interest" for federal land parcels in California that have potential for development.
Further information regarding the lease auctions can be obtained from Laurie Moore at the BLM California State Office, telephone (916) 978-4377 or Nora DeDios at the BLM Bakersfield Field Office, telephone (661) 391-6129.