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Results of BLM Oil and Gas Sale

By ThisIsReno

The Bureau of Land Management (BLM) generated $194,828.50 during its quarterly oil and gas competitive lease sale held in Reno on Sept. 11, selling 20 parcels that comprised 32,328 acres.  The sale high bid of $34,578 for a 1,920-acre parcel at $18 per acre was made by John Obourn, Jr., of Littleton, Colo., for a parcel in Nye County.  The high bid per acre was $19 by Adwin America, Inc., of Cedar Grove, N.J., for a 1,030-acre parcel in Nye County.

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. Nearly half the bid and rental receipts go to the state of Nevada.

The BLM offered 86 parcels totaling 114,348 acres.  The BLM Ely District reviewed the parcels nominated for the sale and deferred about 262,270 acres from the sale because the parcels were partially or entirely in Greater Sage-Grouse Preliminary Priority Habitat, Preliminary General Habitat, or within a 4-mile buffer zone around leks.  A complete summary of the parcels offered and the winning bids is available online at: www.blm.gov/nv.

The next quarterly oil and gas sale is scheduled for Dec. 11, 2012.  The sale will feature parcels in the BLM’s Winnemucca and Carson City districts.

 

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