Sixteen of 19 oil and gas leases were sold Thursday by the Bureau of Land Management’s Eastern States division in Springfield, VA, netting more than $65,275. Bonus bids, filing fees, and rental revenue amounting to $47,000 will go to the U.S. Treasury and $18,275 will be shared with the states where the leases are located on lands managed by the BLM. The BLM has responsibility for leasing the federally owned minerals located in the 31 states east of and adjoining the Mississippi River and offers selected parcels at quarterly competitive auctions. Regulations require the bidding to open at $2/acre. Cyberoil Corp. paid $16,320 for a 1709 acre parcel in Johnson County, AK. Its bid of $8/acre was the highest per-acre bid of the auction. Leases are awarded for a term of 10 years and as long thereafter as there is production of oil and gas in paying quantities. The federal government receives a royalty of 12.5% of the value of production. Also, each state government receives a 25% minimum share of the bonus bid and the royalty revenue from each lease issued in that state. The next competitive oil and gas lease sale will be held in March 2004. Visit the web site at www.es.blm.gov for more information about oil and gas lease sales.
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Articles from Bureau
BLM Leases Additional Oil and Gas Lands in AR, LA and OH
The Department of the Interior’s Bureau of Land Management (BLM) said that 91 parcels of federal land generated a total revenue of $464,222 through a competitive auction of oil and gas leases conducted on Sept. 25 in Springfield, VA.
Powder River Producers Get Green Light from BLM’s Environmental Decision
Powder River Basin producers breathed a collective sigh of relief after the Bureau of Land Management (BLM) issued its long awaited final decision on the environmental impact of a massive increase in coalbed methane drilling in the basin in Wyoming and Montana.
BLM Leases Additional Oil and Gas Lands in AR, LA and OH
The Department of the Interior’s Bureau of Land Management (BLM) said that 91 parcels of Federal land generated a total revenue of $464,222 through a competitive auction of oil and gas leases conducted on Sept. 25 in Springfield, VA.
BLM Approves Gas Exploration Permits in Colorado
The Bureau of Land Management (BLM) has approved permits for Gunnison Energy Corp. (GEC) to explore for natural gas at two sites near Somerset, CO. The Denver-based producer, which has been fighting criticism from environmental groups that had held up the permitting process, wants to explore for gas and coalbed methane (CBM).
Howell Petroleum to Build CO2 Pipe Across Central Wyoming
Howell Petroleum Corp. on Friday received final approval from the Bureau of Land Management (BLM) to begin construction on a 16-inch, 125-mile carbon dioxide (CO2) pipeline across central Wyoming. BLM’s approval followed completion of an environmental assessment and acceptance of the Anadarko Petroleum Corp. subsidiary’s plan of development.
Powder River Producers Get Green Light from BLM’s Environmental Decision
Powder River Basin producers breathed a collective sigh of relief after the Bureau of Land Management (BLM) issued its long awaited final decision on the environmental impact of a massive increase in coalbed methane drilling in the basin in Wyoming and Montana. About 14,300 wells already have been drilled on the Wyoming side of the basin, but producers needed BLM authorization to move forward with a 10-year plan to drill another 39,400 gas wells. In Montana, the BLM looked at the potential of more than 26,000 wells across the entire state.
BLM Acts to Speed Up Drilling Permits
The Interior Department’s Bureau of Land Management (BLM) last Monday announced fundamental new management strategies, centering on batch processing and area-wide rules, aimed at speeding up its processing of applications for permits to drill oil and gas. The announcement came after the interior secretary told Congress the department would be discarding policies installed by the Clinton administration to expand wilderness areas.
BLM Acts to Speed Up Drilling Permits
The Interior Department’s Bureau of Land Management (BLM) Monday announced fundamental new management strategies, centering on batch processing and area-wide rules, aimed at speeding up its processing of applications for permits to drill oil and gas. The announcement came after the interior secretary told Congress last week the department would be discarding policies installed by the Clinton administration to expand wilderness areas.
BLM Proposes Expanded Drilling in Alaska’s NPR
The Department of Interior’s Bureau of Land Management (BLM) on Friday issued a 1,000-page draft proposal that could expand oil and natural gas drilling in more than 8 million acres of the National Petroleum Reserve (NPR) in Alaska.
