SALT LAKE CITY — The Bureau of Land Management Utah received bonus bids totaling $342,277 for 17 parcels of land covering 12,834 acres, at the quarterly oil and gas lease sale held Tuesday at the BLM-Utah State Office in Salt Lake City.
The BLM sold 17 of the 17 offered parcels. In addition to the bonus bids, the sale grossed $19,254 in rental fees and $2,635 in administrative fees, for $364,166 in total receipts from the lease sale.
Receipts from federal oil and gas leases are shared with the state and county where the leased lands are located.
The BLM deferred 42,263 acres from the sale, to provide time to address concerns about cultural resources, and minimize encumbrances that could potentially affect Congressman Rob Bishop’s Public Lands initiative.
Hoover & Stacy Inc., of Cheyenne, Wyoming submitted both the highest total bid per acre, $100, for parcel 31 in the Monticello Field Office and the highest total bid per parcel, $82,890, for parcel 27 located in the Monticello 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 the BLM Oil and Gas Lease website.
|February 2015 | Results Summary|
|Parcels Offered for Auction||17|
|Percent Parcels Sold||
|% Acres Sold||100%|
|Average Bid/Acre Sold||$27|
|Average Bid/Parcel Sold||$20,134|
|Parcel with High Bid/Acre||31|
|Parcel with High Total Bid||27|
|Total Bonus Bid||$342,277|
|Total Rental Due||$19,254|
|Total Administrative Fees Due||$2,635|
|Total Receipts Due*||$364,166|
*Total Receipts Due includes bonus bids, first year’s rental and processing fees.
Submitted by the BLM-Utah
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