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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Utah State office
 
Release Date: 08/18/09
Contacts: gan Crandall , 801-539-4061  

Results of Utah BLM Quarterly Oil and Gas Lease Sale


Salt Lake City, Utah—The Bureau of Land Management held its quarterly oil and gas lease sale today at the BLM Utah State Office in Salt Lake City.  The BLM sold 27 of the 37 offered parcels, totaling 34,648 acres of federal land located in the Fillmore, Moab, Price and Vernal Field Offices.  During the oral auction, BLM received $1,074,094 in bonus bids for the federal oil and gas lease rights.  In addition to the bonus bids, the sale netted $51,984 in rental fees and $3,780 in administrative fees, for $1,129,858 in total revenues from this lease sale.

“The BLM is committed to helping our nation meet its energy needs through the balanced development of both renewable and conventional resources,” BLM Director Bob Abbey said.  “Today’s lease sale in Utah will help us fulfill that commitment while ensuring that we are protecting our nation’s land, water, wildlife, and cultural resources.”

This year, the BLM will hold more than 40 onshore federal oil and gas lease sales, including 21 that that have been held since January.   In these 21 lease sales, 1,930 parcels were offered covering more than 2.4 million acres in the West.  The 1,021 parcels that sold generated $70.2 million in revenue for American taxpayers.

At today’s lease sale, Douglas Chasel of Salt Lake City, Utah, submitted the highest total bid per acre—$925 on parcel number 72 containing 320 acres and located in the Vernal Field Office.  The highest total bid per parcel was also submitted by Douglas Chasel of Salt Lake City, Utah —$296,000 also on parcel 72.

August 2009

Utah Oil and Gas Lease Sale Results Summary

Parcels Offered for Auction  37

Parcels Sold  27

% Parcels Sold  72.97%

Acres Offered  50,636

Acres Sold  34,648

% Acres Sold  68.43%

Average Bid/Acre Sold  $31.00

Average Bid/Parcel Sold  $39,781

Highest Bid/Acre:  $925

Parcel with High Bid/Acre:  72

Highest Bid/Parcel:  $296,000

Parcel with High Total Bid  72

Total Bonus Bid  $1,074,094

Total Rental Due  $51,984

Total Administrative Fees Due  $3,780

Total Receipts Due*  $1,129,858

                          *Total Receipts Due includes bonus bids, first year’s rental and processing fees.



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.
--BLM--

Utah State office   440 West 200 South, Suite 500      Salt Lake City, Utah 84145-0155  

Last updated: 03-04-2011