Results of BLM Nevada Oil and Gas Lease Sale 6/14/2013
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The Bureau of Land Management (BLM) generated $862,183 during its quarterly oil and gas competitive lease sale held in Reno on June 11, selling 33 parcels that comprised 53,923 acres. The sale high bid of $200,000 for a 1,600-acre parcel at $125 per acre was made by The Blanco Company, for a parcel in Nye County.An additional 6 parcels totaling 10,400 acres were sold during the non-competitive sale on June 12 for $18,722.The lease is for a period of 10 years with annual rentals of $1.50 per acre for the first five years and $2 an acre after that until production begins.Once a lease is producing, a royalty of 12.5 percent is charged. Half of the bid and rental receipts go to the state of Nevada.The BLM offered 40 parcels totaling 65,846 acres. A complete summary of the parcels offered and the winning bids is available online at: www.blm.gov.The next quarterly oil and gas sale is scheduled for December 10, 2013. The sale will feature parcels in the BLM's Ely District.
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.