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