BLM completes drilling auction sales in six states

The U.S. Bureau of Land Management last week raised $4.7 million in quarterly oil and gas leases sales in Texas, Oklahoma and Colorado, Kallanish Energy understands.

The sales included 87 parcels covering about 67,500 acres. The combined bids from the sales will be distributed between the federal government and the three states.

The BLM New Mexico office offered nine parcels in Oklahoma in Canadian, Major and Roger Mills counties, and nine parcels in Texas in Live Oak, McMullen, Washington, Burleson and Jackson counties.

A total of 17 parcels totaling 4,230.6 acres were sold. Thirty-eight registered bidders participated.

The high bid per acre was made by Sea Eagle Ford LLC for a 976-acre tract in Live Oak County, Texas, with a bid of $1,202 per acre or a total bid of $1.17 million.

In Colorado, BLM offered 85 parcels in Jackson, Moffat, Rio Blanco and Routt counties. Of those parcels, 70 were sold. They totaled 63,268 acres. The highest price per acre was $102 from Baseline Minera's. A total of 23 bidders participated.

BLM also reported drilling lease auctions raised $48,000 in Utah where 7,478 acres were sold; $38,000 in Nevada where 5,760 acres were sold; and $720,000 in Montana where 15,611 acres were sold.

BLM manages 245 million acres, mostly in 12 Western states. It also oversees 700 million acres of subsurface mineral rights.