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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Montana State Office
 
Release Date: 01/27/10
Contacts: Greg Albright 406-896-5260    

January Lease Sale Results

Bonus bids at the Bureau of Land Management’s January 26 oil and gas lease sale in Billings totaled $8,589,410.

Four companies jointly bid $912,100 for leasing rights on a 1,303-acre parcel in McKenzie County, N.D. The four were Yates Petroleum Corp., Yates Drilling Co., ABO Petroleum Corp., and Myco Industries, Inc. Theirs was the highest total bid of the sale. The highest per-acre bid was $2,400, submitted by Marshall and Winston, Inc., of Midland, Texas, for an 80-acre parcel in Williams County, N.D.

Of the 75 parcels offered, 59 were in Montana and 16 were in North Dakota; all parcels offered received bids.

Additional information regarding competitive sale lists, detailed results of sales or the leasing process is available by writing the Bureau of Land Management, 5001 Southgate Dr., Billings, Mont.  59101, by calling (406) 896-5004, or at www.blm.gov/mt.

 
 
Oil and gas leasing is driven by consumer demand, and competitive oil and gas lease sales are conducted at least four times per year at BLM’s Montana State Office. Receipts from federal oil and gas leases are shared with the state or county where the lands are located. All leases are issued for a 10-year term.
Potential environmental effects that could result from exploration and development are analyzed before any leases are offered for sale. All leases come with conditions on oil and gas activities to protect the environment that can include limits on when drilling can occur or restrictions on surface occupancy. Once an operator proposes exploration or development on a BLM-issued lease, further environmental analysis under the National Environmental Policy Act is conducted to determine the site-specific need for various types of impact-limiting or mitigation measures. In addition, many operators routinely use Best Management Practices such as remote monitoring of producing wells to minimize surface impacts.

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.
--BLM--

Montana State Office   5001 Southgate Drive      Billings, MT 59101  

Last updated: 06-28-2012