The Bureau of Land Management (BLM) is holding a competitive oil and gas lease sale (sale) on Tuesday, March 12, 2013 at the BLM Nevada State Office at 1340 Financial Blvd., Reno. The sale room opens at 8 a.m. for registration and bidding numbers and the sale begins at 9 a.m. Currently the sale includes 35 parcels totaling 45,562 acres. The parcels to be offered at the sale are in the Elko District, which includes the Tuscarora and Wells Field Offices. The previous Elko District sale was held on March 13, 2012. That sale generated $1,788,595, selling all 42 parcels offered covering 72,144 acres.
A complete summary of the parcels to be offered at the sale along with other documents regarding the sale are available online at: www.blm.gov/nv and at the Information Access Center at the BLM Nevada State Office at 1340 Financial Blvd., in Reno. The website also provides a Geographic Information System shapefile of the parcels.
The BLM Nevada offers quarterly oil and gas sales. Parcels to include in a sale are nominated by industry representatives well in advance of a sale. The BLM reviews each parcel location for any resource conflicts, which can result in stipulations placed on the parcel, deferral or partial deferral of a parcel. The next sale will be held June 11, 2013 and will include parcels in the Battle Mountain District, which includes the Tonopah and Mt. Lewis Field Offices.
The lease is for a period of 10 years with annual rentals of $1.50 per acre for the first five years and $2 per acre after that until production begins. Once a lease is producing, a royalty of 12.5 percent is charged. Half of the bid and rental receipts go to the state of Nevada.
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