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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Utah State Office
 
Release Date: 11/13/12
Contacts: Megan Crandall, (801) 539-4020    

BLM Utah Quarterly Oil and Gas Lease Sale Results


SALT LAKE CITY – The Bureau of Land Management (BLM) received bonus bids totaling $702,774.00 for 13,792.25 acres at the quarterly oil and gas lease sale conducted by the BLM Utah State Office in Salt Lake City.

The BLM sold 13 of the 16 offered parcels. In addition to the bonus bids, the sale netted $20,692.50 in rental fees and $1,950.00 in administrative fees, for $725,416.50 in total revenues from this lease sale. Receipts from federal oil and gas leases are shared with the state and county where the leased lands are located.

Turner Petro Land of Sandy, Utah, submitted the highest total bid per acre – $510 – and the highest total bid per parcel – $265,200 – both on parcel 32A located in the Green River District.

All leases are issued with conditions on oil and gas activities to protect the environment; these can include limits on when drilling can occur or restrictions on surface occupancy. Once an operator proposes exploration or development on a BLM-issued lease, further environmental analysis under the National Environmental Policy Act is conducted to determine the site-specific need for various types of impact-limiting or mitigation measures. In addition, many operators routinely use Best Management Practices, such as remote monitoring of producing wells, to minimize surface impact.

Additional information regarding competitive sale lists, detailed results of oil and gas lease sales, or the leasing process is available by writing the Bureau of Land Management, 440 West 200 South, Ste. 500, Salt Lake City, Utah, 84101, or online at:
 
http://www.blm.gov/ut/st/en/prog/energy/oil_and_gas/oil_and_gas_lease.html.
 

Nov. 2012

Utah Oil and Gas Lease Sale Results Summary

 Parcels Offered  for Auction

16

 Parcels Sold  

13

 % Parcels Sold

 81.25%

 Acres Offered  

18,789.69

 Acres Sold  

13,792.25

 % Acres Sold

73.40%

 Average Bid/Acre Sold

$50.95

 Average Bid/Parcel Sold

$54,059.54

 Highest Bid/Acre:  

$510

 Parcel with High Bid/Acre:  

32A

 Highest Bid/Parcel:  

$265,200

 Parcel with High Total Bid  

32A

 Total Bonus Bid  

$702,774

 Total Rental Due  

$20,692.50

 Total Administrative Fees Due  

$1,950

 Total Receipts Due*  

$725,416.50

*Total Receipts Due includes 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      SLC, UT 84101-1345  

Last updated: 11-13-2012