BLM-Utah Quarterly Oil and Gas Lease Sale Results
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SALT LAKE CITY—The Bureau of Land Management (BLM) Utah received bonus bids totaling $192,072.00 for 19 parcels covering 9,049.97 acres at the quarterly oil and gas lease sale conducted today utilizing the EnergyNet internet-based auction system.
The BLM sold 19 of the 24 offered parcels. In addition to the bonus bids, the sale grossed $13,581.00 in rental fees and $3,040.00 in administrative fees, for $208,693.00 in total receipts from this lease sale. Receipts from federal oil and gas leases are shared with the state and county where the leased lands are located.
Robert L Bayless Producer LLC of Denver, submitted the highest total bid per acre—$171.00—for parcel 121 in the Vernal field office. Robert L Bayless Producer LLC of Denver, submitted the highest total bid per parcel —$67,740.00—for parcel 122 located in the Vernal field office.
Oil and gas leases are issued with conditions on activities designed to protect the environment and other natural resources; these conditions 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 site-specific environmental analysis is conducted to determine the need for additional mitigation measures. Many operators routinely use best management practices, such as directional drilling or remote monitoring of producing wells, to further minimize potential surface impacts.
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:
https://www.blm.gov/programs/
BLM-Utah Oil and Gas Lease Sale
Results Summary
Parcels Offered for Auction 24
Parcels Sold 19
% Parcels Sold 79.17 %
Acres Offered 10,510.410
Acres Sold 9,049.970
% Acres Sold 86.10 %
Average Bid/Acre Sold $21.22
Average Bid/Parcel Sold $10,109.05
Highest Bid/Acre $171.00
Parcel with High Bid/Acre 121
Highest Bid/Parcel $67,740.00
Parcel with High Total Bid 122
Total Bonus Bid $192,072.00
Total Rental Due $13,581.00
Total Administrative Fees Due $3,040.00
*Total Receipts Due includes bonus bids, first year’s rental and processing fees.
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.