The Bureau of Land Management — Eastern States leased 155 parcels of land in the Ouachita and Ozark National Forests in Arkansas, the Kisatchie National Forest in Louisiana, and the Bienville and DeSoto National Forests in Mississippi, bringing in $6.4 million in the latest competitive auction on March 24 in Springfield, VA.

The BLM said bonus bids, filing fees, and rental revenue amounting to $4.8 million will go to the U.S. Treasury while $1.6 million will be shared with the three states. The high bid of $356,000 for a 900-acre parcel in Johnson County, AR, was made by Robert S. Block of Oklahoma City.

Arkansas garnered the most bids with 131, followed by Louisiana with 14 and Mississippi with 10. A total of 56,417 acres were leased.

Leases are awarded for a term of 10 years and as long, thereafter, as there is production of oil or gas in paying quantities. The federal government receives a 12.5% royalty stake and each state government receives a 25% minimum share of the bonus and royalty revenue from each lease that is issued in the affected state.

The next competitive oil and gas lease sale is scheduled for June 23. Go to https://www.es.blm.gov for more information.

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