BLM quarterly oil and gas lease sales net combined $8.2 million
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WASHINGTON – In keeping with the Administration’s goals of promoting America’s energy independence, the Bureau of Land Management (BLM) Wyoming, Eastern States, Montana/Dakotas, Utah, Nevada, New Mexico and Colorado state offices sold a combined 175 parcels at their quarterly oil and gas lease sales, totaling approximately 128,483.94 acres and netting $8,157,900 in total bonus bids.
“As part of its multiple use mission, the BLM is proud to facilitate the responsible development of energy resources on public lands,” said BLM Acting Director Michael D. Nedd. “These oil and gas lease sales go a long way toward fueling America’s economy and supporting good-paying energy sector jobs.”
BLM Wyoming totaled $2,668,764 in bonus bids. Parcels in Arkansas managed by BLM Eastern States netted $320 in bonus bids. In Nevada, the BLM brought in $29,440 in bonus bids. BLM Montana/Dakotas sold $697,418 in combined bonus bids. Bonus bids totaled $35,524 in BLM Utah. BLM New Mexico sold parcels in Texas and Oklahoma totaling $3,482,657 in bonus bids. BLM Colorado brought in $1,243,777 in bonus bids.
A bonus bid is a one-time payment in exchange for exclusive access to explore a parcel and grants an exclusive lease for a set period of time. The BLM awards oil and gas leases for a term of ten years and as long thereafter as there is production of oil and gas in paying quantities.
The combined bids from the sales are distributed between the federal government and the states of Wyoming, Arkansas, Nevada, Montana, Utah, Oklahoma, Texas, and Colorado.
Oil and gas lease sales support domestic energy production and American energy independence. The BLM’s all-of-the-above approach to energy development includes oil and gas, coal, strategic minerals and renewable sources, which can all be developed on public lands.
The BLM’s policy is to promote oil and gas development if it meets the guidelines and regulations set forth by the National Environmental Policy Act of 1969 and other subsequent laws and policies passed by the U.S. Congress. The sales are also in keeping with the Administration’s America First Energy Plan, which includes development of fossil fuels and coal, as well as renewable energy.
In Fiscal Year 2015, oil and gas development on BLM-managed lands supported 188,200 jobs nationwide and contributed more than $50 billion to the U.S. economy.
For more information about BLM oil and gas lease sales, please visit https://on.doi.gov/2t45Re8.
The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.