The U.S. Bureau of Land Management raised $7.19 million on March 26 in a federal lease sale for oil and natural drilling in Utah, Kallanish Energy reports.
A total of 111 parcels totaling 148,950 acres were offered, with 90 sold in the agency’s Canyon Country, Green River and West Desert districts. Those 90 parcels covered 135,123 acres.
Crescent Point Energy of Denver, Colorado, submitted the highest total bid per acre: $15,091 for a parcel in the Vernal field office area. The company is a subsidiary of Crescent Point Energy, with headquarters in Calgary, Alberta.
The average bid per acre in the sale was $51.62. The highest bid per parcel was $1.2 million.
For more results on the sale, go to https://go.usa.gov/xXk8c.
The money raised from lease sales is divided between the state of Utah and the federal government.
In related news, the Blm last week sold five parcels covering 1,055 acres in Colorado for $16,281.
The agency offered six parcels covering 1,091 acres in Fremont, Rio Blanco, Jackson and Baca counties. The highest per-acre price was $100 by TEP Rocky Mountain LLC.
More details are available at www.blm.gov/colorado/oil-gas. The money raised will be divided between Colorado and the federal government.