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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
State Office
 
Release Date: 07/18/14
Contacts: 775-861-6575    
News Release No. NSO 2014-025

Results of BLM Oil and Gas Sale


Reno, Nev.— The Bureau of Land Management (BLM) generated $137,472 during its quarterly oil and gas competitive lease sale held in Reno on July 17, selling 27 parcels that comprised 38,070.81 acres. The sale high bid of $5,120 for a 2,560 acre parcel at $2 per acre was made by American General Energy Exploration Corporation.

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. Nearly half the bid and rental receipts go to the state of Nevada.

The BLM offered 102 parcels totaling 173,921.36 acres. The initial sale list included 166 parcels totaling 285,364 acres. 64 parcels totaling 105,442.64 acres were deferred in areas where there were incompatible uses including sage grouse habitat, wilderness and large-scale mining activity.

A complete summary of the parcels offered and the winning bids is available online at: http://on.doi.gov/1oXmCgT. The next oil and gas sale is scheduled for September 9, 2014.



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 mission is to manage and conserve the public lands for the use and enjoyment of present and future generations under our mandate of multiple-use and sustained yield. In Fiscal Year 2013, the BLM generated $4.7 billion in receipts from public lands.
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State Office   1340 Financial Blvd. Reno, NV 89502  

Last updated: 07-18-2014