BLM Nevada News
NEVADA STATE OFFICE NO. 2009-014
FOR RELEASE: March 10, 2009
CONTACT: Heather Emmons, 775-861-6594, heather_emmons@blm.gov

BLM Posts Results of Quarterly Oil and Gas Sale

Reno, Nev.—The Bureau of Land Management (BLM) sold 25 parcels containing 43,798 acres during its quarterly oil and gas competitive lease sale in Reno on Tuesday, March 10, which brought in $175,068. Of that total sale receipt amount, $105,864 is bonus bid revenue, which is split 50/50 between the state and the U.S. Treasury.

BLM offered 492 parcels encompassing 886,306 acres. The highest-valued parcel, which brought in $12,493 and was also the highest bid per acre at $6.50, is located in Lincoln County. Many of the parcels sold for the opening bid price of $2 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.

BLM received $416,154 total bonus bids in its December 2008 quarterly competitive sale with 96 parcels sold. The December high bid parcel was $6 per acre in Nye County.

A complete listing of the parcels offered and the winning bidders is available online at: www.blm.gov/nv/. The next sale is tentatively scheduled for June 9, 2009.

—BLM—