Oil, Gas Lease Sales Generate Over $8 Million
The Bureau of Land Management leased 19 parcels totaling 4,116 acres in Montana and North Dakota for $8,653,960 in total receipts during a quarterly oil and gas lease sale. Combined lease bonus bids and rentals are distributed between the federal government and state where parcels are located.
This lease sale was 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 percent, reversing the 16.67 percent rate set by the Inflation Reduction Act. By lowering the federal onshore royalty rate from 16.67 percent to 12.5 percent, 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.
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 EnergyNet. 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.
