BLM quarterly oil, gas lease sale results

SALT LAKE CITY – The Bureau of Land Management received bonus bids totaling $2,842.261.25 for 62 parcels covering 50,072 acres at the quarterly oil and gas lease sale held Tuesday at the BLM-Utah State Office in Salt Lake City.

The BLM sold 62 of the 93 offered parcels. In addition to the bonus bids, the sale grossed $75,133.50 in rental fees and $9,610 in administrative fees, for $2,927,004.75 in total receipts. Receipts from federal oil and gas leases are shared with the state and county where the leased lands are located.

Kimmeridge Four Corners, of Roswell, New Mexico, submitted the highest total bid per acre – $270 for parcel number 2222 located in the Canyon Country District. Johnston Land Company Inc., of Durango, Colorado, submitted the highest total bid per parcel – $436,800 for parcel number 2223, also located in the Canyon Country District.

All leases are issued with conditions on oil and gas activities to protect the environment; these 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 environmental analysis under the National Environmental Policy Act is conducted to determine the site-specific need for various types of impact-limiting or mitigation measures. In addition, many operators routinely use best management practices, such as remote monitoring of producing wells, to minimize surface impact.

Submitted by BLM Utah

Resources

  • Additional information regarding competitive sale lists, detailed results of oil and gas lease sales, or the leasing process is available online or by writing the Bureau of Land Management, 440 W. 200 South, Ste. 500, Salt Lake City, Utah, 84101.

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