U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Nevada State Office
Nevada State Office
| Contacts: | Heather Emmons | , 775-861-6594 | , Heather_Emmons@blm.gov |
BLM Finalizes Results of September Oil and Gas Sale
Reno, Nev. — The Bureau of Land Management (BLM) sold two parcels containing 1,919 total acres during its quarterly oil and gas competitive lease sale in Reno on Tuesday, September 8, which brought in $6,996. Of that total sale receipt amount, $3,838 is bonus bid revenue, which is split 50/50 between the state and the U.S. Treasury.
BLM offered 85 parcels encompassing 151,975 acres. The two parcels sold at $2 per acre, with the highest bid per parcel at $2,560, and both parcels are located in Nye County. 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 $498,661 total bonus bids in its June 2009 quarterly competitive sale with 44 parcels sold. The June high bid parcel was $110 per acre in Nye 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 December 8, 2009.
BLM offered 85 parcels encompassing 151,975 acres. The two parcels sold at $2 per acre, with the highest bid per parcel at $2,560, and both parcels are located in Nye County. 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 $498,661 total bonus bids in its June 2009 quarterly competitive sale with 44 parcels sold. The June high bid parcel was $110 per acre in Nye 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 December 8, 2009.
The BLM manages more land - 253 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