The Bureau of Land Management is holding a competitive oil and gas lease sale on Tuesday, Dec. 9 at the BLM Nevada State Office,1340 Financial Blvd., Reno. Registration and assignment of bidding numbers begins at 8 a.m. and the sale begins at 9 a.m.
The oil and gas sale includes 97 parcels totaling 189,176.90 acres. The parcels to be offered are in the Ely District, which includes the Caliente, Schell and Egan Field Offices. The previous Ely District sale was held on Dec. 10. 2013. That sale generated over $1.9 million, selling 54 parcels covering 93,816 acres through competitive and non-competitive sales.
The BLM Nevada offers quarterly oil and gas sales. Parcels included are nominated by industry representatives well in advance of a sale. The BLM reviews each parcel location for any resource conflicts, which can result in stipulations placed on the parcel, deferral or partial deferral of a parcel.
A complete summary of the parcels to be offered, GIS shapefiles and other documents related to the oil and gas sale are available online at http://on.doi.gov/1oXmCgT.
The oil and gas lease is for a period of 10 years with annual rentals of $1.50 per acre for the first five years and $2 per acre after that until production begins. Once a lease is producing, a royalty of 12.5 percent is charged. Half of the bid and rental receipts go to the state of Nevada.