U.S. DEPARTMENT OF THE INTERIORBUREAU OF LAND MANAGEMENT
For Release: Dec. 12, 2008
BLM Oil and Gas Lease Auction Tops $200,000
Ten oil and gas lease parcels in Kern County were auctioned for a total of $256,242.50, including administrative fees, by the Bureau of Land Management’s Bakersfield Field Office Wednesday in Bakersfield.
Occidental Petroleum of Elk Hills was the per-acre high bidder at $725 per acre for a 40-acre lease in Kern County. West Coast Land Service, Bakersfield, was the highest bidder by total at $104,000.
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.