BLM lease sales in Colorado, Nevada, Utah generate $64.8 million
The Bureau of Land Management (BLM) on Mar. 31 leased 136 parcels across 131,121 acres in Colorado, Nevada, and Utah for $64.8 million in total receipts during quarterly oil and gas lease sales.
Combined lease bonus bids and rentals are distributed between the federal government and the state where the parcels are located.
Specifically, federal lands leased in Utah realized the bulk of the generated income, reaping $56.4 million from 11 parcels on 68,632 acres, BLM said. Meanwhile, in Colorado, BLM leased 68 parcels on 42,532 acres, making $8.1 million. The Nevada lease sale earned nearly $300,000 on 11 parcels on 19,957 acres.
Nine companies won multiple leases in the Utah sale: Otter Creek LLC, VR Utah Holdings LLC, UT 100 LLC, Bro Energy LLC, Topaz Energy Resources, R&R Royalty Ltd., Drake Land Services LLC, Kirkwood Oil and Gas LLC, and WEM Mancos LLC.
In Colorado, companies winning multiple parcels include Bison IV Properties Colorado LLC, Laramie Energy LLC, Topaz Energy Resources, R&R Royalty Ltd., QB Energy Nominee Corp., Context Energy Co., and SG Interests LLC.
National Minerals Trust LLC won all 11 parcels in Nevada.
Companies will pay a 12.5% royalty rate on production, BLM said.
About the Author
Cathy Landry
Washington Correspondent
Cathy Landry has worked over 20 years as a journalist, including 17 years as an energy reporter with Platts News Service (now S&P Global) in Washington and London.
She has served as a wire-service reporter, general news and sports reporter for local newspapers and a feature writer for association and company publications.
Cathy has deep public policy experience, having worked 15 years in Washington energy circles.
She earned a master’s degree in government from The Johns Hopkins University and studied newspaper journalism and psychology at Syracuse University.