BLM-Utah issues quarterly oil and gas lease sale results

stock image | St. George News

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.


Read more: BLM-Utah offers 12,834 acres at oil, gas lease sale, defers sale of other acres


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
Parcels Sold 17
Percent Parcels Sold

100%

Acres Offered 12,834
Acres Sold 12,834
 % Acres Sold 100%
Average Bid/Acre Sold $27
Average Bid/Parcel Sold $20,134
Highest Bid/Acre $100
Parcel with High Bid/Acre 31
Highest Bid/Parcel $82,890
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.

Resources

Submitted by the BLM-Utah

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1 Comment

  • lelandhsanders@yahoo.com February 19, 2015 at 3:16 pm

    So glad to see the BLM continues to go through the formal process. I’m afraid that would be totally dropped out once the state and local politicians and business interests got control of our public lands if that were to come about.

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