The U.S. Bureau of Land Management collected $2.8 million for Utah oil and gas leases it auctioned Tuesday.
The BLM offered 93 parcels in southeastern and central Utah, according the Salt Lake Tribune.
Most of the acreage was in San Juan, Sanpete and Sevier counties.
Developers bid on just 62 of the parcel covering 50,072 acres, the report said.
“Kimmeridge Four Corners, of New York City, and Discovery Energy of Roswell, N.M. submitted the highest per-acre bids — $270 — for parcels located in eastern San Juan County.”
The highest total bid was submitted by Johnston Land Company Inc. of Durango, Colorado for $436,800 a 2,080-acre parcel.
The BLM splits oil and gas auction receipts with the counties and states where they are located.
“Extensive environmental analysis must occur before any drilling may commence,” the Salt Lake Tribune said.
Thirty-one parcels in the May auction didn’t attract the minimum $2-an-acre bid and can now be leased through a non-competitive process, the report said.
The BLM is taking public comments through June 16 on its next auction slated for August 19.
So far, 22 parcels are set for the quarterly Utah auction in August, covering 39,287 acres.
