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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Utah State Office
 
Release Date: 05/25/10
Contacts: Megan Crandall , 801-539-4061 , megan_crandall@blm.gov

Results of BLM Utah Quarterly Oil and Gas Lease Sale


SALT LAKE CITY – 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 one of the two offered parcels.  The sold parcel totals 957 acres of federal land and is located in the Fillmore Field Office.  During the oral auction, BLM received $1,914.00 in bonus bids for the federal oil and gas lease rights.  In addition to the bonus bids, the sale netted $1,435.50 in rental fees and $145.00 in administrative fees, for $3,494.50 in total revenues from this lease sale.

Mr. Trent Raleigh of Salt Lake City, Utah, submitted the highest total bid per acre—$2 on parcel number 26 containing 957 acres and located in the Fillmore Field Office.  The highest total bid per parcel was also submitted by Trent Raleigh—$1,914.00 on parcel number 26 containing 957 acres and located in the Fillmore Field Office.

May 25, 2010
Utah Oil and Gas Lease Sale Results Summary
 Parcels Offered for Auction
2
 Parcels Sold  
1
 % Parcels Sold
 50%
 Acres Offered  
2,170
 Acres Sold  
957
 % Acres Sold
44.10%
 Average Bid/Acre Sold
$2.00
 Average Bid/Parcel Sold
$1,914.00
 Highest Bid/Acre  
$2.00
 Parcel with High Bid/Acre  
26
 Highest Bid/Parcel  
$1,914.00
 Parcel with High Total Bid  
26
 Total Bonus Bid  
$1,914.00
 Total Rental Due  
$1,435.50
 Total Administrative Fees Due  
$145.00
 Total Receipts Due*  
$3,494.50

**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 84101  

Last updated: 03-04-2011