Results of Utah BLM Quarterly Oil and Gas Lease Sale

Contact:  Mary Wilson, 801-230-5112 

Salt Lake City, Utah—December 19, 2008—The Bureau of Land Management held its quarterly oil and gas lease sale today.  Although bidding was stopped for a short period of time, the lease sale was completed.  Department of the Interior, Bureau of Land Management Special Agents detained two registered bidders.  Agents are conducting an investigation and coordinating with the U.S. Attorney’s Office into the possibility that federal offenses were committed by these bidders in an apparent effort to impede the bidding process.  For questions regarding this investigation, please contact Melody Rydalch at the U.S. Attorney’s office at (801) 243-6475.

At the sale, the BLM sold 116 of the 131 offered parcels, totaling 148,598 acres of federal land located in Carbon, Duchesne, Emery, Garfield, Grand, San Juan and Uintah Counties at the Utah quarterly oil and gas lease sale conducted today at the BLM Utah State Office in Salt Lake City.  During the oral auction, BLM received $7,234,577.50 in bonus bids for the federal oil and gas lease rights.  In addition to the bonus bids, the sale netted $222,951 in rental fees and $16,240 in administrative fees, for $7,473,768.50 in total revenues from this lease sale.

Enduring Resources, LLC of Denver, CO submitted the highest total bid per acre and the highest total bid per parcel on parcel 137containing 2,194.46 acres in the Vernal Field Office.  The total bid per acre was $270 for a total amount of $592,650 on the parcel.

Dec. 2008 Utah Oil and Gas Lease Sale Results Summary

Parcels Offered for Auction  131

Parcels Sold  116

% Parcels Sold  88.55%

Acres Offered  163,714

Acres Sold  148,598

% Acres Sold  90.77%

Average Bid/Acre Sold   $48.69

Average Bid/Parcel  $62,367

Highest Bid/Acre:  $270

Parcel with High Bid/Acre:  137

Highest Bid/Parcel:  $592,650

Parcel with High Total Bid  137

Total Bonus Bid  $7,234,577.50

Total Rental Due  $222,951

Total Administrative Fees Due  $16,240

Total Receipts Due  $7,473,768.50

Totals include bonus bids, first year’s rental and processing fees.