Nevada State Office
| Contacts: | JoLynn Worley | , 775-861-6515 | , jworley@blm.gov |
Results of BLM Competitive Oil and Gas Lease Sale
Reno, Nev.— The Bureau of Land Management (BLM) generated $1,271,113 during its quarterly oil and gas competitive lease sale held in Reno on March 12, selling 29 parcels that comprised 35,889 acres. The sale high bid of $163,840 for a 1,280-acre parcel at $128 per acre was made by Lonewolf Exploration and Production Co., of Billings, Montana, for a parcel in Elko County. The high bid per acre was $152 by Lonewolf Exploration and Production Co. for a 157.27-acre parcel in Elko County.
The lease is 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.
Half of the bid and rental receipts go to the state of Nevada.
The BLM offered 35 parcels totaling 45,562 acres. The BLM Elko District reviewed the parcels nominated for the sale and deferred about 41,294 acres from the sale because the parcels were partially or entirely in Greater Sage-Grouse habitat. A complete summary of the parcels offered and the winning bids is available online at: www.blm.gov/nv.
The next quarterly oil and gas sale is scheduled for June 11, 2013. The sale will feature parcels in the BLM’s Battle Mountain District.
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. The BLM's multiple-use mission is to sustain the health, diversity, and productivity of the public lands for the use and enjoyment of present and future generations. In Fiscal Year 2012, activities on public lands generated $4.6 billion in revenue, much of which was shared with the States where the activities occurred. In addition, public lands contributed more than $112 billion to the U.S. economy and helped support more than 500,000 jobs.
Nevada State Office 1340 Financial Blvd. Reno, NV 89502