The sale will include 15 onshore parcels totaling 1,494.1 acres located in Cleburne, Faulkner, Pope, and Van Buren Counties in Arkansas and Forrest, Jones, Perry and Stone Counties in Mississippi
The Bureau of Land Management Eastern States announces December oil and gas lease sale. (Credit: skeeze from Pixabay)
In keeping with the Trump Administration’s goal of strengthening America’s energy independence, the Bureau of Land Management Eastern States announces an online oil and gas lease sale to be held December 17, 2020. The sale will include 15 onshore parcels totaling 1,494.1 acres located in Cleburne, Faulkner, Pope, and Van Buren Counties in Arkansas and Forrest, Jones, Perry and Stone Counties in Mississippi.
Oil and gas leases sales support domestic energy production and American energy independence. The BLM’s energy program follows an all-of-the-above approach that includes oil and gas, coal, strategic minerals and renewable sources, all of which can be developed on public lands.
Start and stop times for an open bidding period will be clearly identified on the auction website and will run for three hours from start to finish. Bids will be accepted only during this time. The auction website is open to everyone; however, you must register as a bidder on the EnergyNet site before the sale to submit bids for any individual parcel.
The Federal government receives a royalty of 12 and one-half percent of the value of production. Each state government receives a 25 percent minimum share of the bonus bid and the royalty revenue from each lease issued in that state.
Source: Company Press Release