Posted on 03/30/2025 7:42:52 PM PDT by Red Badger
The Department of the Interior (DOI) announced Thursday it generated over $39 million in revenue from oil and gas lease sales on public lands during the first few months of 2025.
A press release by the agency says these sales are “underscoring the Department’s continued commitment to responsible energy development on public lands and American Energy Dominance.” The revenue also reflects the government’s ongoing focus on supporting job growth, reducing reliance on foreign resources, unleashing domestic energy production and streamlining the permitting and leasing processes.
“This quarter’s lease sales demonstrate Interior’s unwavering commitment to fostering American Energy Dominance, and we are grateful to those who produce energy on federal lands,” DOI Secretary Doug Burgum said in the statement. “By building on the commonsense, pro-growth policies of the Trump administration, we’re ensuring public lands are being used to their fullest potential to support national security, economic strength and livelihood of the American people.”
The Bureau of Land Management (BLM) leased 34 parcels, amounting to 25,038 acres, for a total of $39,007,609 in the first quarter of 2025, the press release stated. The bonus bids and rentals from the leases are set to be distributed between the states and federal government. The states where sales occurred include North Dakota, Montana, New Mexico, Nevada and Wyoming. (RELATED: Biden Admin Locks In Skimpiest Offshore Oil And Gas Leasing Schedule In US History As Prices Remain High At The Pump).
The sales come amid President Donald Trump’s Executive Order 14154, which is aimed to help “meet the energy needs of U.S. citizens and solidify the nation as a global energy leader long into the future.”
Oil and gas leases are set up with terms of 10 years and can continue for longer if there is “production of oil and gas in paying quantities,” the press release noted. The federal government also receives a 16.67% royalty from the production.
The BLM is set to hold an additional 15 oil and gas lease sales in 2025.
Gas prices are down about 50 cents a gallon here in my Northern Commiefornia neck of the woods. A couple of local stations are under 4 dollars.
How dare you?
With the possible exception of Nevada, not a single one of those leases are in areas with undiscovered oil.
Meaning, these leases will not add to reserves estimates. It also reflects reluctance on the part of drillers to waste money on regions where there are not guaranteed odds of oil.
This is not the great news being hyped.
Great news would be leases bought in the Arctic or Alaska. Didn’t happen. These locales leased are not just low hanging fruit, it’s at waist level.
Ours is going up.
Fantastic! Winning is so much fun.
“This is not the great news being hyped.”
Correct, but it’s good enough and there will be more.
lease them ALL!!! with 100 year leases that the next Democrat cant undo!!!!!!!!!!!
As is ours.
Interesting. We took a weekend trip through an area where oil wells regularly pump. Of the pumps we saw, only one was active. All the others were idle. When proclaimed “drill, drill, drill” he left out pump, pump, pump and refine, refine, refine.
UP IN TENNESSEE, A DIME JUMP IN A WEEK. And after those Horrinle Storms that went thru from AR a lot of damage was left in it’s wake, 1 tornado was spotted in AR, the storm went up around us in Tipton County to the upper end of Covington and beyond. They are recoverying from a Tornado 3 yrs ago. No one cares about rural counties.
I have some fractional ownership in oil/gas wells in West Texas. I start getting offers in the mail from companies offering to buy my mineral interests just before the oil/gas activity picks up.
This month I have received 4 letters offering to buy my minerals and they have been pretty good prices.
Not selling though. Don’t need to.
No.
It’s not a failure of drill baby drill. It’s not really a Biden failure nor a Trump failure.
Geology doesn’t care about politics. The problem is scarcity. We’ve been pumping for over 100 years. That could not go on forever.
We won’t run out. There will always be oil underground. But we will run short. It won’t be available in growing amounts. Until interest rates went to 0% 15 years ago, our oil output was in devastating decline. 0% loans enabled shale to be accessed. The oil there was always known to be there, but even $90 oil would not enable it. 0% on the loan did.
The next phase, as shale runs short, will be nationalized oil output because it is not profitable to access at any price. That’s when the world changes and the desperation becomes visible.
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