BLM Oil and Gas Lease Auction Brings in More Than $300 Thousand

Two oil and gas lease parcels located in Kern County were auctioned for a total of $340,359.00, including administrative fees, by the Bureau of Land Management on Wednesday in Sacramento.

Occidental of Elk Hills paid the highest price per acre, $2,700 for an 80-acre parcel and the highest total bid price for one parcel, $216,000.00.

BLM is required by law to periodically offer federal land 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.  An “expression of interest” is a letter or a form listing the legal description of lands an individual or company is interested in seeing offered for lease.

Expressions of interest for the lease auction planned for March 2013 should be sent to the BLM, Attention:  Laurie Moore, 2800 Cottage Way Suite W-1618, Sacramento, Calif. 95825 no later than April 27, 2012.

For more information, contact Laurie Moore at (916) 978-4377 or Nora DeDios at the BLM Bakersfield Field Office, (661) 391-6129.

Central California District   2800 Cottage Way, Sacramento, CA 95825