The Bureau of Land Management held its quarterly oil and gas lease sale today at the BLM Utah State Office in Salt Lake City. The BLM sold five of the ten offered parcels.
The sold parcels total 2,958 acres of federal land located in the Fillmore Field Office. During the oral auction, the BLM received $81,205 in bonus bids for the federal oil and gas lease rights. In addition to the bonus bids, the sale netted $4,440 in rental fees and $725 in administrative fees, for $86,370 in total revenues from this lease sale.
Sonja McCormick of Salt Lake City submitted the highest total bid per acreвЂ”$110 on parcel number 11 containing 120 acres. The highest total bid per parcel was by Sonja McCormick of Salt Lake City вЂ”$62,335 on parcel number 10 containing 958 acres.
The BLM manages more land – over 245 million acres – than any other Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The Bureau, with a budget of about $1 billion, also administers 700 million acres of sub-surface mineral estate throughout the nation.
The BLM’s multiple-use mission is to sustain the health and productivity of the public lands for the use and enjoyment of present and future generations. The Bureau accomplishes this by managing such activities as outdoor recreation, livestock grazing, mineral development, and energy production, and by conserving natural, historical, cultural, and other resources on public lands.