Nevada State Office
| Contacts: | Chris Rose | , 775-861-6480 | , crose@blm.gov |
Results of BLM Oil and Gas Sale
Reno, Nev.— The Bureau of Land Management (BLM) generated $305,102.50 during its quarterly oil and gas competitive lease sale held in Reno on June 12, selling 27 parcels that comprised 39,276 acres. The sale high bid of $22,680 for a 2,520 acre parcel at $9 per acre was made by TSAR LMD LLC for a parcel in White Pine County.
Leases are issued for a primary term of 10 years with annual rentals of $1.50 per acre for the first five years and $2.00 per acre after that until production begins. Once a lease is producing, a royalty of 12.5 percent is charged. Nearly half the bid and rental receipts go to the state of Nevada.
The BLM offered 38 parcels totaling 48,572 acres. The initial sale list included 59 parcels totaling 99,088 acres. On June 5, an amendment to the sale list was posted deferring a total of 21 entire parcels from the lease sale pending completion of additional analysis.
Of the 21 entirely deferred parcels, 13 parcels were deferred due to an overlap with greater sage-grouse habitat and 8 parcels, located on U.S. Forest Service lands, were deferred for additional environmental analysis.
A complete summary of the parcels offered and the winning bids is available online at www.blm.gov/nv. The next oil and gas sale is scheduled for September 11, 2012.
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.
Nevada State Office 1340 Financial Blvd. Reno, NV 89502