Utah State Office
| Contacts: | Megan Crandall | , 801-539-4061 |
BLM Utah Quarterly Oil and Gas Lease Sale Results
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 5 of the 20 offered parcels, totaling 2,314 acres of federal land located in the Moab, Price and Vernal Field Offices. During the oral auction, BLM received $160,736 in bonus bids for the federal oil and gas lease rights. In addition to the bonus bids, the sale netted $3,474 in rental fees and $725 in administrative fees, for $164,935 in total revenues from this lease sale.
Enduring Resources LLC of Denver, Colo., submitted the highest total bid per acre—$1,075 on parcel number 27 containing 40 acres and located in the Vernal Field Office. The highest total bid per parcel was submitted by Turner Petroleum Land Services LLC of Midvale, Utah —$113,970 on parcel number 25 containing 392 acres and located in the Vernal Field Office.
November 17, 2009 BLM Utah Oil and Gas Lease Sale Results Summary |
Parcels Offered for Auction 20 |
Parcels Sold 5 |
% Parcels Sold 25% |
Acres Offered 28,549 |
Acres Sold 2,314 |
% Acres Sold 8.11% |
Average Bid/Acre Sold $69.45 |
Average Bid/Parcel Sold $32,147 |
Highest Bid/Acre: $1,075 |
Parcel with High Bid/Acre: 27 |
Highest Bid/Parcel: $113,970 |
Parcel with High Total Bid 25 |
Total Bonus Bid $160,736 |
Total Rental Due $3,474 |
Total Administrative Fees Due $725 |
Total Receipts Due* $164,935 |
*Totals include 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. 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