BLM NEWS RELEASE
The Bureau of Land Management (BLM) generated $652,418 during its quarterly oil and gas competitive lease sale held in Reno on December 13, selling 70 parcels that comprised 160,339 acres. The sale high bid of $17,290 for a 2,240 acre parcel at $8 per acre was made by Ames Energy Advisors, LLC of San Antonio, Texas for a parcel in Nye County.
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. Nearly half the bid and rental receipts go to the state of Nevada.
The BLM offered 137 parcels totaling 293,057 acres. The initial sale list included 151 parcels totaling 333,816 acres. The sale list was amended on Dec. 7 at the request of the Nevada Department of Wildlife, 14 parcels were deferred and nine parcels were partially deferred because those areas are within sage-grouse population management units where there is insufficient data available to determine potential impacts to sage-grouse habitat.
A complete summary of the parcels offered and the winning bids is available online at: www.blm.gov/nv. The next oil and gas sale is scheduled for March 13, 2012.
