BLM oil and gas lease sale in Michigan and Louisiana nets $224,026
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FALLS CHURCH, Va. – The Bureau of Land Management Eastern States State Office today conducted a competitive oil and gas lease sale offering 4 parcels covering 128.8 acres in Michigan and Louisiana. In total, 4 parcels covering 128.8 acres sold for $224,026.
The environmental assessment, maps, parcel lists, Notice of Competitive Lease Sale and proposed lease stipulations are available online at the BLM’s ePlanning website at:
Michigan parcel: https://eplanning.blm.gov/eplanning-ui/project/2020688/510
Louisiana parcels: https://eplanning.blm.gov/eplanning-ui/project/2022413/510
As authorized under the Inflation Reduction Act, BLM will apply a 16.67% royalty rate for any new leases from this sale. More information about the Act is available on BLM's online fact sheet.
Leasing is the first step in the process to develop federal oil and gas resources. Before development operations can begin, an operator must submit an application for permit to drill detailing development plans. The BLM reviews applications for permits to drill, posts them for public review, conducts an environmental analysis and coordinates with state partners and stakeholders.
All parcels leased as part of an oil and gas lease sale include appropriate stipulations to protect important natural resources. Information on current and upcoming BLM lease sales is available through the National Fluid Lease Sale System.
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.