BLM Leases Oil and Gas Resources on 8 Parcels in Southwest Idaho
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BOISE – The Bureau of Land Management (BLM) Idaho received bonus bids totaling $352,427 for eight parcels covering 9,243 acres in Payette County, Idaho, at the oil and gas lease sale held July 27, 2016 at the BLM-Idaho State Office in Boise.
The BLM sold all eight of the offered parcels. In addition to the bonus bids, the sale grossed $13,867 in rental fees and $1,280 in administrative fees, for $367,574 in total receipts from this lease sale. Receipts from federal oil and gas leases are shared with the State where the leased lands are located.
Reagan Smith Energy Solutions, Inc. of Oklahoma City, OK, submitted the highest total bid per acre – $110. The company also submitted the highest total bid per parcel – $142,780 – for parcel B. All eight parcels are located in the BLM Four Rivers Field Office.
The parcels were offered subject to No Surface Occupancy and No Sub-surface Occupancy stipulations until BLM completes revision of the Four Rivers RMP. The parcels were offered at this time to protect the U.S. and its citizens from uncompensated drainage of the Federal mineral resource.
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, 1387 South Vinnell Way, Boise, Idaho, 83709, or by visitinghttp://www.blm.gov/id/st/en/prog/energy___minerals/energy.html.
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.