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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Utah State Office
 
Release Date: 05/20/14
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 $2,842.261.25 for 62 parcels covering 50,072 acres at the quarterly oil and gas lease sale held today at the BLM-Utah State Office in Salt Lake City.

The BLM sold 62 of the 93 offered parcels. In addition to the bonus bids, the sale grossed $75,133.50 in rental fees and $9,610 in administrative fees, for $2,927,004.75 in total receipts. Receipts from federal oil and gas leases are shared with the state and county where the leased lands are located.

Kimmeridge Four Corners, of Roswell, N.M., submitted the highest total bid per acre—$270—for parcel number 2222 located in the Canyon Country District. Johnston Land Company Inc. of Durango, Colo., submitted the highest total bid per parcel—$436,800— for parcel number 2223 also located in the Canyon 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 2014
Utah Oil and Gas Lease Sale Results Summary

Parcels Offered for Auction           93
Parcels Sold62
% Parcels Sold

66.67%

Acres Offered

102,262

Acres Sold

50,072

% Acres Sold

48.96%

Average Bid/ Acre Sold

$56.76

Average Bid/ Parcel Sold

$45,842.92

Highest Bid/ Acre

$270

Parcel with High Bid/ Acre

2222

Highest Bid/ Parcel

$436,800

Parcel with High Total Bid

2223

Total Bonus Bid

$2,842,261.25

Total Rental Due

$75,133.50

Total Administrative Fees Due

$9,610

Total Receipts Due*

$2,927,004.75

*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.
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Utah State Office   440 West 200 South Ste 500      Salt Lake City, Utah 84101  

Last updated: 05-27-2014