Nevada State Office
| Contacts: | Heather Emmons | , 775-861-6594 | , heather_emmons@blm.gov |
BLM Posts Results of Quarterly Oil and Gas Sale
Reno, Nev. — The Bureau of Land Management (BLM) sold 44 parcels containing 60,978 acres during its quarterly oil and gas competitive lease sale in Reno on Tuesday, June 9, which brought in $596,304.50. Of that total sale receipt amount, $498,661 is bonus bid revenue, which is split 50/50 between the state and the U.S. Treasury.
BLM offered 270 parcels encompassing 449,937 acres. The highest-valued parcel, which brought in $52,800 and was also the highest bid per acre at $110, is located in Nye County. Many of the parcels sold for the opening bid price of $2 per acre. The leases are for a period of 10 years with annual rentals of $1.50 per acre for the first five years and $2 an acre after that until production begins. Once a lease is producing, a royalty of 12.5 percent is charged.
BLM received $105,864 total bonus bids in its March 2009 quarterly competitive sale with 25 parcels sold. The March high bid parcel was $6.50 per acre in Lincoln County.
A complete listing of the parcels offered and the winning bidders is available online at: www.blm.gov/nv/. The next sale is tentatively scheduled for September 8, 2009.
The BLM manages more land - 256 million acres - than any other Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The Bureau, with a budget of about $1 billion, also administers 700 million acres of sub-surface mineral estate throughout the nation. 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.
Nevada State Office 1340 Financial Blvd. Reno, NV 89502