Utah State Office
| 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 |
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 84101