Oil and gas lease sale results have been announced for Wyoming, Colorado, Montana/Dakotas, New Mexico, and Nevada.
The U.S. Bureau of Land Management (BLM) has announced oil and gas lease sale results for Wyoming, Colorado, Montana/Dakotas, New Mexico, and Nevada.
In the BLM Wyoming State Office, a two-day lease sale offering 122 parcels totaling about 119,565 acres resulted in 81 parcels being sold for a total of $13,021,696, the BLM outlined. The BLM’s Colorado State Office conducted a lease sale offering six parcels totaling 2,444.13 acres in Weld, Jackson, Moffat, and Rio Blanco counties on public lands managed by the Rocky Mountain and Northwest District Offices, which was revealed to have resulted in three parcels being sold for a total of $1,201,794.50.
In the Montana/Dakotas State Office, a lease sale offering 23 parcels totaling 3,405.8 acres in Montana and North Dakota saw 19 parcels sold for a total of $7,354,562.00, according to the BLM, which highlighted that Whiting Oil and Gas Corporation of Denver, Colorado, was the highest bidder. BLM’s New Mexico State Office conducted a lease sale offering six parcels totaling 535.72 acres in Chaves County, NM, Lea County, NM, and Dewey County, OK on public lands managed by the Roswell Field Office, Carlsbad Field Office and Oklahoma Field. Six parcels were said to have been sold for a total of $632,385.
The BLM’s Nevada State Office conducted a lease sale offering five parcels totaling 2,560 acres in Nye County on public lands managed by the Battle Mountain District Office. Four parcels were said to have been sold for a total of $54,700.00.
According to the BLM, all parcels offered for sale reflected recommendations from the Department of the Interior’s Report on the Federal Oil and Gas Leasing Program, as well as other reports issued by the Governmental Accountability Office and Congressional Budget Office, input from Tribal consultation and environmental review, and resolution of protests received.
In its competitive lease sales, the BLM said it applied a first-ever increased royalty rate of 18.75 percent for the leases sold, which it highlighted was in keeping with rates charged by states and private landowners.
Source: Rigzone.com