The Bureau of Land Management on March 31 leased 136 parcels totaling 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 state where parcels are located.
Here are the results from each state:
- Colorado: 68 parcels, totaling 42,532 acres, generated $8.1 million in revenue.
- Nevada: 11 parcels, totaling 19,957 acres, generated $294,405 in revenue.
- Utah: 57 parcels, totaling 68,632 acres, generated $56.4 million in revenue.
The lease sales were conducted under the?One Big Beautiful Bill Act, which resets the royalty rate for new federal onshore oil and gas production to a minimum of 12.5%, reversing the 16.67% rate set by the Inflation Reduction Act. By lowering the federal onshore royalty rate from 16.67% to 12.5%, the One Big Beautiful Bill Act reduces the cost of doing business on public lands, making oil and gas development more economically attractive to industry. This is expected to spur?additional?leasing and drilling activity, which in turn supports increased domestic energy production and strengthens U.S. energy security.?
Oil and gas lease sales support domestic energy production and American energy independence, while contributing to the nation’s economic and military security. Consistent with?Executive Order 14154, 'Unleashing American Energy,' the BLM's lease sales help meet the energy needs of U.S. citizens and solidify the nation as a global energy leader long into the future.?
Leasing is the first step in the process to develop federal oil and gas resources. The BLM ensures oil and gas development meets the requirements set forth by the National Environmental Policy Act of 1969 and other applicable legal authorities.?
Oil and gas leases are awarded for a term of 10 years and as long thereafter as there is production of oil and gas in paying quantities. Information on current and upcoming BLM leases is available through the?National Fluid Lease Sale System.?
BLM lease sales are held online through?Efficient Markets. Results are available on the?National Fluid Lease Sale System. After navigating to the page, filter to the sale, and select the action 'View Sale Documents' to view the sale results.?
The BLM manages about 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.
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