BLM's mineral lease sale, auction generate revenues on 27 land parcels in Utah
The United States Bureau of Land Management the federal agency's quarterly oil and gas lease sale on Aug. 18 at the BLM state office in Salt Lake City.
The agency sold 27 of the 37 offered parcels, totaling 34,648 acres of federal land located in the Price, Fillmore, Moab and Vernal field offices, according to the BLM.
During the oral auction, the agency received $1,074,094 in bonus bids for the federal oil and gas lease rights, indicated the BLM.
In addition to the bonus bids, the sale netted $51,984 in rental fees and $3,780 in administrative fees for $1,129,858 in total revenues from the lease sale.
"The BLM is committed to helping our nation meet its energy needs through the balanced development of both renewable and conventional resources," said BLM Director Bob Abbey. "Today's lease sale in Utah will help us fulfill that commitment while ensuring that we are protecting our nation's land, water, wildlife, and cultural resources."
During 2009, the agency will conduct more than 40 onshore federal oil and gas lease sales.
The number includes the 21 sales the federal agency has conducted since January, pointed out the BLM.
In the 21 lease sales, 1,930 parcels were offered covering more than 2.4 million acres of federal lands in the West, continued the BLM.
The 1,021 parcels that sold generated $70.2 million in revenue for American taxpayers.
At the Aug. 18 mineral lease sale, Douglas Chasel of Salt Lake City submitted the highest total bid per acre at $925.
The bid was submitted on parcel number 72 containing 320 acres located in the Vernal field office, indicated the federal agency.
The highest total bid per parcel was also submitted by Douglas Chasel at $296,000.
The bid was submitted on parcel 72 in the Vernal field office, concluded the federal agency.