From Deseret News archives:
Oil firms snap up Utah land
BLM holds largest drilling lease auction
Wixom, the manager of a family leasing partnership, bid up to $3,000 an acre matching a record in Utah for one small drilling parcel near a major new oil field in central Utah.
The 240-acre parcel is six miles from a well pad where Wolverine Gas & Oil Corp., based in Grand Rapids, Mich., is pumping about 4,800 barrels a month of crude oil from the ground.
"Hey, there's a possibility on everything," Wixom, who manages International Petroleum, a Salt Lake City family concern with backing from outside investors, told other bidders who gathered around him during a lunch break in the auction.
In all, Wixom amassed a dozen parcels totaling 15,884 acres. He was among 77 speculators, brokers, drillers and midsize oil companies snapping up 262 of the 295 parcels offered by the U.S. Bureau of Land Management.
Altogether, the bidders competed for 437,849.5 acres, the largest such sale the BLM has held in Utah.
More than $54 million was bid for the right to develop the parcels, including administrative costs. It was a record for a BLM lease sale in Utah.
"It was a very successful lease sale today," she told the Deseret Morning News. Nearly 90 percent of the acres offered received bids. The highest bid per acre was $3,000 an acre, submitted by International Petroleum, she added.
The highest bid for a parcel was more than $3.7 million for a parcel in Carbon County, submitted by Land Group, a Salt Lake City company, she said.
Among drilling parcels were two bordering Capitol Reef National Park which, like parcels in other wild places of Utah, drew protests from conservation groups. Rafting outfitters objected to the leasing of parcels along the Green, San Rafael and San Juan rivers.
In all, opponents objected to the lease of nearly half of Tuesday's parcels. The BLM refused to pull any of them.
Tulsa, Okla.-based Walden Energy LLC snapped up a 1,600-acre parcel adjacent to Capitol Reef for just $3,200; the other parcel touching the park's edge drew no bids.
Larry David, a registered bidder for Walden Energy, refused comment on acquisition of four of 18 parcels near the national park.
Comments
- Soccer MVPs know how to win 1:56 a.m.
- Alta's Ohai is Ms. Soccer 2009 1:56 a.m.
- High school soccer: Past MVPs 1:37 a.m.
- Senators want food tax restored 1:27 a.m.
- Utah women lag in higher education 1:16 a.m.
- Hatch empathizes with Muslims 1:14 a.m.
- Matheson gets no thanks from GOP 1:13 a.m.
- Mitchell seeks to block witnesses 1:12 a.m.
- Party insiders may take on Bennett 1:11 a.m.
- Input sought on nondiscrimination 1:11 a.m.
- TCU showdown has big implications
- Seniors helped BYU regroup
- Bystanders framed for child porn
- Lambert surprisingly tops news
- Soccer MVPs know how to win
- Hope for single moms
- Matheson gets no thanks from GOP
- Utah Jazz Extra: Whose hot/not
- Korver and Miles to be evaluated
- Mitchell seeks to block witnesses
- House passes health care bill
230 - TCU showdown has big implications
183 - Lobo suspended
182 - Cougars crush hapless Cowboys
154 - Utah Jazz fall apart against Kings
131 - TCU 4th in AP poll; U. 16th, Y. 22nd
118 - Thousands protest health bill
115 - RSL rallies to advance
103 - No 'backlash' for pioneers, gays analogy
97 - Utes pound winless Lobos
89
Meghan McCain, the daughter of former presidential candidate John...
Why do so many people live so close to refineries in Utah and elsewhere?
Why would Bountiful remove the mandatory recycling program? Why is it so hard...
Mike Lee is the real deal! He is truly a constitution scholar and is looking...
Congrats. Does this mean they will be hiring a new guy so soon? Or does...
A four day school week does not fit most families schedules. They do not...
Its blah blah blah. Always the same platitudes from the lefties. Joe Moe is...
We all know that women are supposed to be raising the kids and not out in the...
There is a pay-back time. If you vote against what we want you don't get...
The championship games for 3A, 4A, and 5A will be played on Friday Nov 20th....
Is it that big of a deal?
The Muslim/LDS/religious comparisons have their place, and the contrasts are...


You can be the first to comment on this story.