BLM holds March 2024 sale for Mississippi oil and gas leases

Falls Church, Va. – The Bureau of Land Management Eastern States State Office held a competitive oil and gas lease sale, offering three parcels covering 91 acres in Mississippi. In total, one bid was received, with one parcel covering 2.70 acres leased, roughly three percent of the total acreage available. A total of $30 in high bids were received.

The environmental assessment, maps, parcel lists, Notice of Competitive Lease Sale and proposed lease stipulations are available online at the BLM’s ePlanning website at: https://eplanning.blm.gov/eplanning-ui/project/2026780/510.

As authorized under the Inflation Reduction Act, BLM will apply a 16.67 percent royalty rate for production on any new leases from this sale. More information about the Act is available on BLM's online fact sheet. Revenues are split between the state where the drilling occurs and the U.S. Treasury.

Leasing is the first step in the process to develop federal oil and gas resources. Before development operations can begin, an operator must submit an application for permit to drill detailing development plans. The BLM reviews applications for permits to drill, posts them for public review, conducts an environmental analysis and coordinates with state partners and stakeholders.

All parcels leased for oil and gas lease include appropriate stipulations to protect important natural resources. Information on current and upcoming BLM leases is available through the National Fluid Lease Sale System.