U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
| Contacts: | Megan Crandall | , 202-912-7411 |
Payment of Annual Oil and Gas Lease Fees
WASHINGTON, D.C. — The Bureau of Land Management (BLM) today reminds oil and gas lessees that annual lease fees for non-producing oil and gas leases are due on or before the lease anniversary date.
Oil and gas leases without a producible well automatically terminate if the lessee fails to make full and timely payment of the annual rental fees to the Office of Natural Resources Revenue. Annual rental rates for both competitive and non-competitive oil and gas leases issued after Dec. 22, 1987 are $1.50 per acre (or fraction thereof) in the first five years and $2.00 per acre each year thereafter.
To read more about rental payments for oil and gas leases please visit 43 CFR § 3103.2–2 Annual rental payments by clicking here.
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.