Federal lease sales on onshore public lands nets $22 million – Permian Basin Oil and Gas Magazine

Energy companies submitted bids totaling more than $22 million for drilling rights on about 110 square miles of federal lands in seven western states last week.  It was the first sale of onshore leases since President Biden took office in January 2021.  About 200 square miles of public lands in eight states had been offered, but leases on about 90 square miles went unsold in the BLM online auction.  Most of the leases sold were in Wyoming ($13 million for parcels totaling about 105 square miles).  Other leases sold were in New Mexico, Oklahoma, Colorado, Montana, Nevada and North Dakota.  States and the federal government share in the revenue.

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