BLM NEWS RELEASE
The Bureau of Land Management (BLM) will offer 81 parcels encompassing 156,513 acres of public land during a competitive oil and gas lease sale on Tuesday, June 14, which will be held the BLM Nevada State Office at 1340 Financial Blvd., in Reno.
Registration to bid will begin at 8 a.m. and bidding will begin at 9 a.m. Â Any parcels not sold during the competitive bid, will be available for sale non-competitively the day after the sale for $1.50 per acre.
The leases are 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.
The parcels are located in Eureka and Nye counties within the BLM Battle Mountain District. A complete listing of the parcels is available on-line at http://www.blm.gov/nv/st/en.html. A list of the winning bidders will be posted the afternoon of the sale.
The BLM sold one parcel in Elko County at the March 2011 quarterly lease sale, which generated $99,413 in sale receipts.
