Oil and gas leases for 4,462 acres of State-owned mineral estates were auctioned today at the Idaho Department of Lands (IDL) office in Boise.
Two hundred twenty-one of the 225 leases auctioned are for a total of 2,317 acres of the mineral estate owned by the Idaho Transportation Department (ITD). These leases average 10 acres in size. ITD will receive a total of $7,897 from the lease auction.
A total of $2,702 in rentals and fees will be deposited in the state endowment fund benefiting Idaho public schools. This was for 4 leases covering 2,145 acres.
Overall, the high bonus bid was $45.00 per acre. There was competitive bidding on 45 leases.
Morris Creighton of Galveston, TX paid $3,695.20 in bonus bids for 13 leases covering 91 total acres.
Alta Mesa Idaho (AM Idaho, LLC) acquired 209 leases and paid $449.20 in bonus bids on 2 of those leases covering 11 acres.
A summary of the leases auctioned by county is as follows:
· 82 leases in Canyon County covering 968 acres
· 73 leases in Payette County covering 1,282 acres
· 31 leases in Gem County covering 211 acres
· 23 leases in Ada County covering 305 acres
· 13 leases in Washington County covering 53 acres
· 2 leases in Bonneville County covering 1,280 acres
· 1 lease in Cassia County covering 305 acres
Stipulations were put in place for all tracts auctioned, in order to protect the environment, surface owners (where split estate scenario was present), and other values. A tract list for all counties, maps of leases auctioned, and lease stipulations are available on the IDL web site here: https://www.idl.idaho.gov/oil-gas/leasing/index.html
Public Information Officer
Idaho Department of Lands