BLM Sells Oil And Gas Leases - 8 News NOW

BLM Sells Oil And Gas Leases

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RENO, Nev. (AP) -- The U.S. Bureau of Land Management has sold leases for oil and gas drilling on more than 81,000 acres of federal land in Nevada for a total of about $373,000.

About $122,000 of that will go to the state -- the same amount that will go to the U.S. Treasury. The most expensive parcels in the latest round of sales to the highest bidders were sold in Elko County for $10 an acre. The Denver-based Energy West Corp. and the Las Vegas-based North Star

Expeditions each bought just under 2,000 acres there for about $20,000. Overall, the BLM had offered leases on 171 parcels of land covering more than 305,000 acres. The agency sold 45 of those parcels for the total of $372,897.

 (Copyright 2010 by The Associated Press. All Rights Reserved.)

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