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Utah BLM Geothermal Lease Sale Nets Over $3.5 Million

Contact:  Lola Bird 801-539-4033, Al McKee 801-539-4045

Salt Lake City, Utah—June 20, 2007—In Utah’s first competitive geothermal lease sale, the Bureau of Land Management sold three parcels on over 6,000 acres for a total of $3,685,986.  All three parcels are located on the Fishlake National Forest in the Cove Fort-Sulphurdale area.  This was the first sale under the new regulations of the Energy Policy Act of 2005.  The highest bid was from Enel Cove Fort II, LLC, located in Andover, Mass. at $850 per acre on parcel number one for a total of $2,196,586.  Bids ranged from $20 to $850 per acre.  All bonus bid, rental and royalty monies collected are shared equally with the State of Utah. 

Five parcels in Idaho were also offered at the Utah sale.  The highest bid for an Idaho parcel was from Agua Caliente LLC, located in Englewood, Colorado at $875 per acre for a total sale of $2,033,016.  Bids on these parcels ranged from $130 to $875.  Total revenue from the Idaho parcels was $5,726,208. 

Geothermal energy accounts for 8.5 percent of renewable electricity generation, and 0.3 percent of total U.S. electricity supply. Almost 50% of the nation's production of geothermal energy is on federal land. Utah’s current geothermal production is in primarily in Beaver County where two plants produce 24 megawatts per year.

The Bureau of Land Management administers 29 geothermal power plants, using federal resources in California, Nevada and Utah. The power plants have a total capacity of 1250 megawatts and supply the needs of 1.2 million homes. Geothermal energy uses steam and hot water generated by heat from the earth. Some geothermal power plants use steam or hot water from a natural underground reservoir to power generators for electricity generation. Others use hot water to provide direct heat for residential and other buildings, and for other applications. For more information, contact the BLM Utah Information Access Center at 539-4001 or see www.ut.blm.gov.

                Utah Geothermal Lease Sale Results
  Bid per acre   Acres  Total Revenue
  $850 2,578 $2,196,586
  $600 2,437 $1,467,204
  $20 1,003 $22,196
  Total   $3,685,986 

                Idaho Geothermal Lease Sale Results
  Bid per acre   Acres  Total Revenue
  $875 2,318 $2,033,016
  $600 1,686 $1,015,102
  $130 1,080 $   142,690
  $525  2,080  $1,096,290
  $825 1,740 $1,439,110
  Total   $5,726,208 

Totals include bonus bids, first year’s rental and processing fees.

Last updated: 03-04-2011