According to the Bureau of Land Management (BLM) Eastern States State Office, the sale of leases to develop oil and gas resources on three parcels of land in Mississippi is scheduled for March 26, 2024.
The three parcels total 91 acres, said the BLM, which completed scoping on the land in November 2023 and held a public comment period that closed in December 2023 on the parcels, the potential deferrals, and the related environmental analysis.
A 30-day public protest period to receive additional input opened on Jan. 26, 2024, and is scheduled to close Feb. 26.
BLM said it will apply a 16.67% royalty rate for oil and gas production on any new leases from the sale, which is required by the Inflation Reduction Act of 2022 (P.L. 117-169).
Leasing is the first step in the process to develop federal oil and gas resources, said BLM, adding that before development operations can begin, an operator must submit an application for a permit to drill that details development plans. The BLM reviews applications for permits to drill, posts them for public review, conducts an environmental analysis, and coordinates with state officials and stakeholders.
All parcels leased as part of an oil and gas lease sale include appropriate stipulations to protect important natural resources, BLM stated.
In addition to the March sale of the Mississippi oil and gas leases, BLM has scheduled the sale of two more oil and gas leases for 2024 – one in September and the other in December – according to the National Fluid Lease System (NFLS), a competitive and noncompetitive Federal onshore oil and gas and geothermal leasing program. Furthermore, the sale of two more oil and gas leases is “pending” for 2025, with one scheduled for September and the second scheduled for December, said the NFLS.
