“California Geothermal Lease Sales Rake in $2.7M, Boosting Domestic Energy Production”

The Bureau of Land Management (BLM) has accepted winning bids worth $2,711,858 on 13 parcels across 22,685 public acres in Imperial, Lassen, and Modoc counties in a geothermal lease sale. The sale, which generated an average of $117 per acre offered, could potentially increase domestic energy production, thereby supporting American prosperity. The BLM will issue leases once the review and payment processes are complete.

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The revenue distribution from the lease sale will see 50% of the bid, rental receipts, and subsequent royalties going to the state of California. Meanwhile, 25% will be allocated to the county where the lease is situated, and the remaining 25% will be directed to the U.S. Treasury. This lease sale is part of the BLM’s geothermal lease sales, which aim to meet the energy needs of U.S. citizens and solidify the country’s position as a global energy leader.

Geothermal lease sales contribute to domestic energy production and American energy independence, while also supporting the nation’s economic and military security. The BLM ensures that geothermal development meets the requirements set forth by the National Environmental Policy Act of 1969 and other applicable legal authorities. The leasing process is the first step in developing federal geothermal resources, with the BLM managing 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.