BLM to hold 32,000-acre oil and gas lease sale in Northern Nevada
RENO, Nev. — The Bureau of Land Management is holding a competitive oil and gas lease sale on Tuesday, Sept. 10.
According to a press release provided by the BLM, the agency will offer 28 parcels for lease totaling 32,342.43 acres in Elko and White Pine counties in north central Nevada.
The BLM will hold the lease sale online at http://www.energynet.com; parcels will be available to view there in the coming days, according to the press release.
The open bidding period will begin at 7 a.m. PDT on Sept. 10, and each parcel will have its own unique open bidding period, according to the BLM.
According to the BLM, the sale complies with the terms of a preliminary injunction issued by the U.S. District Court of Idaho in W. Watersheds Project v. BLM (No. 1:18-cv-00187-REB).
“Responsible energy development includes consideration of parcels nominated for leasing as well as potential resource impacts for each parcel,” according to the BLM. “Additional environmental review will take place during processing of an Application for Permit to Drill, when site-specific Conditions of Approval will be placed on the permit in addition to the stipulations already attached to the lease at the time of sale.
The next oil and gas sale is scheduled for Oct. 1, 2019.
By statute, the BLM is required to offer quarterly oil and gas lease sales of available federal lands. BLM state offices conduct lease sales quarterly when parcels are available for lease. These lease sales represent parcels that cleared environmental review and public comment.
The BLM issues both competitive and non-competitive leases for a 10-year period. The leases are a contract to explore and develop any potential oil and gas. The leases may earn an extension if the lessee establishes production, otherwise they pay annual rentals.
The BLM generated a record $1.1 billion from 28 oil and gas lease sales in Fiscal Year (FY) 2018. The oil and gas industry on public lands in Nevada contributed $3.1 million in total economic output in FY 2019.
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