BLM to Hold First Online Auction for Colorado Oil & Gas Leases

July 15, 2009 at 3:35 am Leave a comment

The US Department of the Interior’s Bureau of Land Management (BLM) will hold the agency’s first-ever online auction of oil and gas leases under a pilot program. The quarterly lease sale will begin at 9:00 am Sept. 9 and continue for several days, with leases on 38 Colorado parcels up for auction. The lease areas are within BLM’s Royal Gorge, Little Snake and White River field office areas. Details are at the BLM Oil and Gas Lease Internet Auction Pilot website, which also includes training videos on how to register for and bid in the online auction. There is also information on the auction at BLM Colorado’s lease-sale website.

BLM is conducting the Colorado online auction as a one-time test authorized by Congress to assess its feasibility. The 38 parcels will be split into two groups and auctioned on a staggered basis over several days. The first 19 parcels will be offered Sept. 9-16. The remaining 19 will be offered Sept. 10-17.

Bidders can submit one-time set bids on parcels as well as proxy bids, allowing a bidder to automatically increase a bid in increments up to a pre-set amount. Bidders must register in advance. BLM encourages bidders to sign up as early as possible in order to get familiar with the process.

The process for filing protests over lease parcels offered in the auction is unchanged, BLM said. Written protests are due by 4:00 pm Aug. 25 at BLM’s Colorado office, 2850 Youngfield St., Lakewood, CO 80215, or by fax (303-239-3799). BLM is not accepting protests online or by e-mail.


Entry filed under: Financial and Back Office Solutions, News Flash. Tags: , , , , , .

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