BLM Oil and Gas Lease Auction Brings in almost $850,000

Nine oil and gas lease parcels in Kings and Kern counties were auctioned for a total of $846,900 including administrative fees, by the Bureau of Land Management Sept. 12 in Bakersfield.

Vintage Production LLC paid the highest price per acre, $1,600.00 for a 162-acre parcel and the highest total bid price for one parcel, $384,000.00.  Both parcels are located in Kern County.

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 September 11, 2013 should be sent to the BLM, Attention:  Laurie Moore, 2800 Cottage Way Suite W-1618, Sacramento, Calif. 95825 no later than October 25, 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