News

Geothermal lease sale in Nevada concludes with bids for two of ten parcels

Ubehebe Crater, Esmeralda, Nevada (source: flickr/ Bill Ward, creative commons)
Alexander Richter Alexander Richter 26 Oct 2018

A recently held geothermal lease sale of the Bureau of Land Management, saw bids for two of ten parcels.

In an announcement released yesterday, the Bureau of Land Management announces having received bids on geothermal leases in Nevada that brought in $26,422 in total receipts during an online auction held on October 23.

Ten parcels totaling 27,136.48 acres were offered during the lease sale. Bids were received on two parcels, totaling 2,321.05 acres. The parcels are located in the Carson City District.

The largest amount received, $21,445 was from Federal Abstract Company for 1,520 acre parcel in Lyon County. The highest bid was for $12 per acre.

Geothermal leases are for an initial 10-year period with the opportunity to extend if diligent exploration and development occur.

Fifty percent of the funds collected as bids, rent and royalties are disbursed to the state, 25 percent disbursed to the county the lease is located in and 25 percent to the U.S. Department of the Treasury.

Source: BLM Nevada