Record $24M in Winning Bids for Utah Geothermal Leases
SALT LAKE CITY – This week, the Bureau of Land Management set records for the bureau’s highest parcel bid at $4,168,725 and highest per-acre bid at $1,207 and was the second largest lease sale in total dollars in the Bureau’s history. The Bureau accepted winning bids on 32 parcels in Utah totaling 72,398 acres for $24,706,280 in total receipts for a geothermal lease sale.
The BLM may issue leases once review and payment are complete. The combined bonus bids, rentals, and subsequent royalties from the leases will be distributed between the U.S. Treasury, the State of Utah, and the counties where the leases are located.
"This record-breaking geothermal lease sale underscores our commitment to unleashing American energy and securing our nation's energy dominance," said Secretary of the Interior and Chairman of the National Energy Dominance Council Doug Burgum. "By harnessing Utah's abundant geothermal resources, we are not only supporting American Energy Dominance and creating robust economic opportunities for local communities, but we are also strengthening our national and military security long into the future. This is all possible thanks to President Trump, and the efforts of leaders at the Department of the Interior and the National Energy Dominance Council, to put America First.”
Geothermal is reliable, around-the-clock, American-made energy that isn’t dependent on weather conditions. This source of energy is becoming increasingly more affordable thanks to advances in precision drilling technology and material science. Geothermal lease sales support domestic energy production and American energy independence, while contributing to the nation’s economic and military security. Consistent with Executive Order 14154, “Unleashing American Energy,” the BLM's geothermal lease sales help meet the energy needs of U.S. citizens, will solidify the nation as a global energy leader long into the future, and achieve American Energy Dominance.
Leasing is the first step in the process to develop federal geothermal resources. The BLM ensures geothermal development meets the requirements set forth by the National Environmental Policy Act of 1969 and other applicable legal authorities. Planning documents for this sale are available at the BLM National NEPA Register. The BLM’s lease sales are held online through Efficient Markets.
Geothermal is an abundant resource, especially in the West, where the BLM has authority to manage geothermal resource leasing, exploration, and development on approximately 245 million surface acres of public lands and the 700 million acres where the United States owns the subsurface mineral estate.
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