BLM seeking feedback on oil and gas lease sales in Nevada

An oil pump jack
An oil pump jack(kfyr)
Published: Nov. 21, 2022 at 2:33 PM PST
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WASHINGTON (KOLO) - The Bureau of Land Management is asking for the public’s feedback on proposed oil and gas lease sales in Nevada.

The 30-day scoping period will receive input on oil and gas lease sales on 35 parcels of land in Nevada totaling more than 63,000 acres. 18 parcels of land are also up for consideration.

The parcels in Nevada up for consideration can be found here.

Minimum bids for all offered parcels will be $10 per acre. Royalty rates are set at 16.67%.

Rental rates will be for $3 per acre for the first two years, $5 an acre for years three through eight, and $15 per acre in years nine and ten. Prior to the Inflation Reduction Act, rental rates were $1.50 per acre for the first five years and $2 per acre for each year thereafter, rates originally set in 1987.