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Oil and Gas Internet Lease Auction Pilot. Why? 2008 Consolidated Appropriations Act (Division F, Title I, 2008 Omnibus Bill, HR2764, (General Provisions,

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Presentation on theme: "Oil and Gas Internet Lease Auction Pilot. Why? 2008 Consolidated Appropriations Act (Division F, Title I, 2008 Omnibus Bill, HR2764, (General Provisions,"— Presentation transcript:

1 Oil and Gas Internet Lease Auction Pilot

2 Why? 2008 Consolidated Appropriations Act (Division F, Title I, 2008 Omnibus Bill, HR2764, (General Provisions, DOI)  Directed BLM to pilot Internet auction in lieu of oral auction  Removed Mineral Leasing Act requirement for oral auctions for purposes of the pilot

3 Pilot Overview Purpose: examine feasibility, savings and benefits Constructed to work with BLM systems Limited in scope

4 Public Notice of Pilot  Briefings  Web pages  Workshops  Notice of competitive oil and gas lease sale

5 Training and Customer Service BLM workshops for public and industry prior to pilot sale Online tutorial Telephone support during auction

6 Major components of pilot Notice of sale parcels and stipulations Day-of-sale activities  Bidder registration  Present sale parcels  Conduct auctions online  Collect monies owed and bidder qualifications (BLM Form )

7 Bidder Registration Pre-qualified to hold federal leases  More robust  Includes “commitment to pay”  Electronic identity validation via credit card Assigned bidder number One bidder number for each lessee Bidder home page

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10 Parcel Prep and Notice Continue current practices to prep parcels Notice of lease sale Parcels posted online for 60 days  Link to Colorado State Office online lease sale notice  Online list of parcels and individual parcel pages

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14 Auction Particulars Each parcel will be unique auction Auction period is one week Parcels scheduled to stagger every 10 minutes

15 Bidding Particulars Registered bidders only Only bidder number displays online Ascending, fixed period, English auction Standard and proxy bid options

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17 After the Auction Winning bid announced and bidder notified Collect monies owed day-of-sale  pay.gov Complete BLM Form online System will track pending actions and completed actions

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19 After the Sale Online results Over to the Colorado State Office  Results list  Adjudication of bids and collection of remaining monies owed

20 Evaluate pilot Analyze bidding  Bids per parcel—More? Less?  Bidding activity Industry feedback BLM feedback

21 Then what? If deemed beneficial, recommend amendment to Mineral Leasing Act Design of national online system: consider incorporating auction system into National Lease Sale System


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