BLM Nevada geothermal lease sale takes in $637,892.00
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RENO, Nev. — In keeping with the Administration’s goals of promoting American’s Energy independence, the Bureau of Land Management Nevada geothermal lease sale resulted in competitive bids for 102,402.85 acres of the 384,369.59 acres offered.
The combined bids from the sale brought in $637,892.00 which will be distributed between the Federal government and Nevada.
The BLM offered 142 parcels in Churchill, Elko, Esmeralda, Eureka, Humboldt, Lander, Pershing, Washoe, and White Pine counties.
The largest amount received for a parcel, $96,000.00, was from Western States Environment and Resources LLC out of Houston, TX for 4,799.99 acres in Churchill County. The highest bid was for $20 per acre. For more details about the sale results, please visit https://www.blm.gov/programs/energy-and-minerals/renewable-energy/geothermal-energy/regional-information/nevada.
Geothermal leases are for an initial 10-year period with the opportunity to extend if diligent exploration and development occur.
Fifty percent of the funds collected as bids, rent and royalties are disbursed to the state, 25 percent disbursed to the county the lease is located in and 25 percent to the U.S. Department of the Treasury.
The BLM generated a record $5.12 million from lease sales and production in Fiscal Year (FY) 2018. The geothermal industry on public lands in Nevada contributed $2.6 million in total economic output in FY 2018.
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.