Geothermal lease sale nets $13,888 in Nevada

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Updated: 11/20/2013 5:55 am

RENO, Nev. (AP) — The U.S. Bureau of Land Management says $13,888 was generated in a competitive geothermal lease sale held Tuesday in Reno.

Four parcels, three in Churchill County and one in Pershing County, were offered for lease. The high bid on each of the four parcels was $2 per acre.

Three were sold to Ormat Nevada and one was sold to Colorado-based Presco Energy.

Geothermal leases are issued for a 10-year primary term. Annual rental for a competitive lease is $2 per acre for the first year, and $3 per acre each year after that through 10 years.

The BLM says additional environmental analysis is required before permits are issued to drill or build a facility to develop the energy from the geothermal source.


©2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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