Eastern States Office of External Affairs
| Contacts: | Davida Carnahan | , 703-440-1717 | , Davida.Carnahan@blm.gov |
All Parcels Offered are Sold in March Oil and Gas Lease Sale
The parcels in the sale were located in Alabama, Arkansas, Louisiana, Michigan, Mississippi, and Kentucky. In Alabama, parcels were sold in Covington and Escambia Counties. In Arkansas, parcels were sold in Scott, Pope, Van Buren, Johnson and Conway Counties. In Louisiana, parcels were sold in Claiborne, Grant and Winn Parishes. In Michigan, one parcel was sold in Mason County. In Mississippi, parcels were sold in Smith, Perry, Wayne, Forest and Pearl River Counties. In Kentucky, parcels were sold in Whitley County and McCreary County. The highest per-acre bid of the auction was made by Mason Dixon Energy of Bridgeport, WV at $925 per acre for over 642 acres in Clairborne Parish, Louisiana.
Leases are awarded for a term of ten years and as long thereafter as there is production of oil and gas in paying quantities. The Federal government receives a royalty of 12 and one-half percent of the value of production. Each state government receives a 25 percent minimum share of the bonus bid and the royalty revenue from each lease issued in that state.
March 17, 2011 BLM Eastern States Oil and Gas Lease Sale Results Summary |
Parcels Offered for Auction: 147 |
Parcels Sold: 147 |
% Parcels Sold: 100% |
Acres Offered: 97,855.257 |
Acres Sold: 97,855.257 |
Acres Sold: 100% |
Average Bid/Acre: $39.20 |
Average Bid/Parcel: $26,904.00 |
Highest Bid/Acre: $925.00 |
Parcel # with High Bid/Acre: 92 |
Highest Bid/Parcel: $630,000.00 |
Parcel with High Total Bid: 90 |
Total Bonus Bid: $3,835,828.00 |
Total Rental Due: $146,871.00 |
Total Administrative Fees Due: $21,315.00 |
Total Receipts Due: 4,004,014.00 |
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.