BLM Announces New Proposed Oil And Gas Lease Sales In Nevada, Utah

"The Bureau of Land Management (BLM) on Monday announced two proposed oil and gas lease sales for nearly 100,000 acres of land in Nevada and Utah.

The land in question includes 63,603.89 acres on 35 parcels in Nevada and 31,808 acres across 18 parcels in Utah, according to a release from BLM.

The land in question would be leased under updated provisions from the Inflation Reduction Act, President Biden’s expansive climate and infrastructure package that became law earlier this year. Under the updated regulations, minimum bids would be set at $10 per acre, a fivefold increase from the previous minimum of $2 per acre. This marks the first increase in the minimum in 35 years."

Zack Budryk reports for The Hill November 21, 2022.