Utah State Office
| 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.
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 |
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 SLC, UT 84101-1345