BLM Montana Announces January 2012 Oil and Gas Lease Sale Results
Organization:
Media Contact:
Bonus bids at the Bureau of Land Management's January 24 oil and gas lease sale in Billings totaled $35,975,750. The highest single-parcel bid was $4,096,000 submitted by Kodiak Oil & Gas of Denver, Colorado for a 640-acre U.S. Forest Service parcel in McKenzie County, North Dakota. Continental Resources Inc. of Enid, Oklahoma submitted the highest per-acre bid at $10,600 per acre for a 40-acre U.S. Forest Service parcel also located in McKenzie County.All 59 parcels offered, totaling just over 14,760 acres, were located in North Dakota and received bids. Last July, the BLM Montana/Dakotas oil and gas sale produced a record overall bonus bid totaling over $66 million, with nearly twice the acreage offered compared to this sale.Additional information regarding competitive sale lists, detailed results of sales or the leasing process is available by writing the Bureau of Land Management, 5001 Southgate Dr., Billings, Mont. 59101, by calling (406) 896-5004, or at https://www.blm.gov/programs/energy-and-minerals/oil-and-gas/leasing/regional-lease-sales/montana-dakotasOil and gas leasing is driven by consumer demand, and competitive oil and gas lease sales are conducted several times per year at BLM's Montana/Dakotas State Office. Receipts from federal oil and gas leases are shared with the state or county where the lands are located. All leases are issued for a 10-year term. Potential environmental effects that could result from exploration and development are analyzed before any leases are offered for sale.All leases come with conditions on oil and gas activities to protect the environment that 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 impacts.
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.