BLM will not sell oil and gas leases in Stillwater County next week

Three leases in the Beartooth Foothills will not be put up for sale as planned next week, the BLM announced today. The parcels were scheduled to be part of an online auction on March 13.

BLM tweet, March 5, 2018

The BLM had proposed offering 109 parcels covering nearly 63,500 acres in an online auction to be held March 12 and 13. The scattered parcels stretch across Central Montana from the Canadian border to the Wyoming state line.  The BLM has decided to defer the rights to explore for oil and gas on 26 parcels and on a portion of two additional parcels, totaling about 17,300 acres. These parcels are located near the city of Livingston, and in the foothills surrounding the Absaroka and Beartooth mountain ranges in Montana.Three parcels, totaling about 2100 acres, were part of the planned auction. All were in southern Stillwater County.

The remaining 83 parcels covering nearly 46,200 acres in Montana are being offered for oil and gas leasing through a competitive online auction. Information on the parcels including details on how to register in advance as a bidder is available at EnergyNet.com.

The BLM awards oil and gas leases for a period of 10 years, and for as long thereafter as there is production in paying quantities. The revenue from the sale of federal leases, as well as the 12.5 percent royalties collected from the production of those leases, is shared between the federal government and the states.

 

 

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