Utah BLM News Release

BLM Utah Geothermal Lease Sale Results

Contact:  Lola Bird, 801-539-4033

Salt Lake City, Utah—December 19, 2008—In BLM Utah’s competitive geothermal lease sale, the Bureau of Land Management sold 44 parcels on 144,372 acres for a total of $5,695,672.  The highest bid was from Ormat Nevada, Inc., located in Reno, NV at $130 per acre on parcel number 43 for a total of $665,600.  Bids ranged from $2 to $210 per acre.  All bonus bid, rental and royalty monies collected are shared equally with the State of Utah. 

Parcels in Idaho, Oregon and Washington were also offered at the Utah sale.  Total revenue from the three Idaho parcels was $59,828.  The highest bid for an Idaho parcel was from Kodali, Inc., located in Reno, NV at $5.25 per acre.  Bids on these parcels ranged from $2 to $8.50. 

Total revenue from the 11 Oregon/Washington parcels was $787,025.  The highest bid for an Oregon/Washington parcel was from Ormat Nevada, Inc., located in Reno, NV at $35 per acre.  Bids on these parcels ranged from $2 to $35.  

Geothermal energy accounts for 8.5 percent of renewable electricity generation, and 0.3 percent of total U.S. electricity supply. Almost 50% of the nation's production of geothermal energy is on federal land. Utah’s current geothermal production is in primarily in Beaver County where two plants produce 24 megawatts per year.

The Bureau of Land Management administers 29 geothermal power plants, using federal resources in California, Nevada and Utah. The power plants have a total capacity of 1250 megawatts and supply the needs of 1.2 million homes. Geothermal energy uses steam and hot water generated by heat from the earth. Some geothermal power plants use steam or hot water from a natural underground reservoir to power generators for electricity generation. Others use hot water to provide direct heat for residential and other buildings, and for other applications. For more information, contact the BLM Utah Information Access Center at 539-4001 or see www.ut.blm.gov.

Dec. 2008
Utah Geothermal Lease Sale Results Summary
 Parcels Offered  for Auction
44 
 Parcels Sold  
44
 % Parcels Sold
100%
 Acres Offered  
144,372
 Acres Sold  
144,372
 % Acres Sold
100%  
 Average Bid/Acre Sold
$37.41 
 Average Bid/Parcel
$122,744.05 
 Highest Bid/Acre:  
$210
 Parcel with High Bid/Acre:  
1
 Highest Bid/Parcel:  
$665,600
 Parcel with High Total Bid  
43
 Total Bonus Bid  
$5,400,738
 Total Rental Due  
$288,774
 Total Administrative Fees Due  
$6,160
 Total Receipts Due  
$5,695,672

 

 

 

 

 

 

 

 

 

 

Totals include bonus bids, first year’s rental and processing fees.

 Dec. 2008
Idaho Geothermal Lease Sale Results Summary
 Parcels Offered  for Auction
3
 Parcels Sold  
3
 % Parcels Sold
100%
 Acres Offered  
8,676
 Acres Sold  
8,676
 % Acres Sold
100%
 Highest Bid/Acre:  
$5.25
 Highest Bid/Parcel:  
$19,330.50
 Total Bonus Bid  
$42,054
 Total Receipts Due  
$59,828

 

 Dec. 2008
Oregon/Washington Geothermal Lease Sale Results Summary
 Parcels Offered  for Auction
11
 Parcels Sold  
11
 % Parcels Sold
100%
 Acres Offered  
41,362
 Acres Sold  
41,362
 % Acres Sold
100%
 Highest Bid/Acre:  
$35
 Highest Bid/Parcel:  
$154,105
 Total Bonus Bid  
$702,755
 Total Receipts Due  
$787,025