Happy Thursday!
We hope you had a chance to go by the Carbon Capture
Technology Expo North American which ended today!
Did anyone happen to read the Oil & Gas
Journal’s Daily Update Newsletter on June 24, 2024, their article titled, “BLM
fetches $34.4 million in high bids from New Mexico, Kansas lease sale”? The article was on the U.S. Bureau of Land
Management’s (BLM) latest oil and gas lease sale for New Mexico and Kansas winners
were announced last week. The BLM’s oil
and gas lease sale were for 19 parcels which spanned approximately 3,128 acres
in New Mexico and Kansas. They received
451 bids on 14 parcels out of the 19 parcels offered or approximately 2,768 acres
and the leases will bring in over $34.4 million. The lease sales royalty rate of 16.67% will be
shared by the state where production is located and the US Treasury. The BLM’s sale is only the first step in
developing oil and gas leases. The operator
must file a development plan, have a public review (comment period), and they
must conduct an environment analysis plan, and consult with state authorities and
local stakeholders, once those are completed a permit to drill will be issued
and production may begin. If you would
like to read more of Oil & Gas Journal’s article, please
click the link: BLM
fetches $34.4 million in high bids from New Mexico, Kansas lease sale | Oil
& Gas Journal (ogj.com).
If you would like to learn more about the oil and gas
lease sale for federal lands, please click the link: BLM holds June 2024 sale for New Mexico and Kansas oil and gas leases | Bureau of Land Management.
How can we help you reduce your greenhouse gas
emissions on your liquid petroleum product transportation system? We can help
update your emission controls or look to see what is under your feet to help
lower your emissions, contact us via email in the blog and check out our ESC's website!
We hope you
have a wonderful evening!
**Disclaimer:
You may be charged a fee to read the Oil and Gas Journal’s article. **