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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Utah State Office
 
Release Date: 05/21/13
Contacts: Megan Crandall, (801)539-4020    

BLM-Utah Quarterly Oil and Gas Lease Sale Results


SALT LAKE CITYThe Bureau of Land Management (BLM) Utah received bonus bids totaling $115,411.50 for 12 parcels covering 14,614.02 acres at the quarterly oil and gas lease sale held today at the BLM-Utah State Office in Salt Lake City.

The BLM sold all 12 offered parcels. In addition to the bonus bids, the sale netted $21,928.50 in rental fees and $1,800.00 in administrative fees, for $139,140 in total receipts from this lease sale. Receipts from federal oil and gas leases are shared with the state and county where the leased lands are located.

Bean Resources Inc., of Lafayette, La. submitted the highest total bid per acre—$25—and the highest total bid per parcel—$41,925—both on parcel number 7 located in the BLM-Utah Color Country 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 by visiting:
 
http://www.blm.gov/ut/st/en/prog/energy/oil_and_gas/oil_and_gas_lease.html.
 
May 2013
Utah Oil and Gas Lease Sale Results Summary
 Parcels Offered  for Auction
12
 Parcels Sold  
12
 % Parcels Sold
                    100%
 Acres Offered  
14,614.02
 Acres Sold  
14,614.02
 % Acres Sold
100%
 Average Bid/Acre Sold
$7.90
 Average Bid/Parcel Sold
$9,617.63
 Highest Bid/Acre
$25.00
 Parcel with High Bid/Acre
7
 Highest Bid/Parcel
$41,925.00
 Parcel with High Total Bid  
7
 Total Bonus Bid  
$115,411.50
 Total Rental Due  
$21,928.50
 Total Administrative Fees Due  
$1,800.00
 Total Receipts Due*  
$139,140.00
*Total Receipts Due includes bonus bids, first year’s rental and processing fees.
 
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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: 05-21-2013