| Contacts: | Vanessa Delgado 303-239-3681 | |||
| Steven Hall 303-239-3672 | ||||
| Cassandra Cairns 719-269-8553 |
BLM geothermal lease sale nets $29,600
DENVER Today, the Bureau of Land Management Colorado State Office leased one geothermal parcel offered at its quarterly oil, gas and geothermal lease sale, totaling approximately 800 acres. The per-acre price was $37 for the parcel in Chaffee County that sold to 3E Geothermal, LLC in Colorado Springs. The company paid a bonus bid of $29,600 for the parcel. Overall, the lease sale earned $29,600 in total proceeds, with 49 percent to go to the State of Colorado.
A company producing geothermal energy for commercial use on public lands is required to pay 1.75 percent of gross proceeds in royalties for the first 10 years plus the annual rental fee of $2 per acre. Leases not developed within 10 years will be terminated.
The State of Colorado received more than $229.4 million in Fiscal Year 2009 from royalties, rentals and bonus bid payments for all federal minerals, including coal.
A lease is the first step for a company or individual before eventually applying to develop and produce oil and gas from the BLM-managed public mineral estate. Additional planning, environmental analysis and public input must occur before drilling can begin. Final sale results Map of all parcels prior to withdrawals
The BLM manages more than 245 million acres of public land, the most of any Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. In Fiscal Year (FY) 2011, recreational and other activities on BLM-managed land contributed more than $130 billion to the U.S. economy and supported more than 600,000 American jobs. The Bureau is also one of a handful of agencies that collects more revenue than it spends. In FY 2012, nearly $5.7 billion will be generated on lands managed by the BLM, which operates on a $1.1 billion budget. The BLM's multiple-use mission is to sustain the health and productivity of the public lands for the use and enjoyment of present and future generations. The Bureau accomplishes this by managing such activities as outdoor recreation, livestock grazing, mineral development, and energy production, and by conserving natural, historical, cultural, and other resources on public lands.
2850 Youngfield St. Lakewood CO 80215