BLM Logo
U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Utah State Office
 
Release Date: 11/17/09
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. 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