OCR Text |
Show Utah oil-Gas Leasing Drops Drastically After six consecutive weeks of oil and gas leasing on more than 200,000 acres each week, Utah's oil and gas lease applications appli-cations on federal land filed with the Bureau of Land Management's Salt Lake office off-ice dropped to 53,000 acres this week. Carlton Stowe, minerals specialist, Utah Geological Geo-logical & Mineral Survey reports re-ports that lease applications on federal lands this week were primarily filed by only two Salt lake City independents: indepen-dents: S. McCormick and Crest Resources. Between the two, applications covered slightly more than 27,000 acres southwest of Escalante. J. Tully, Denver, filed on 4,400 acres in the Vernal area. The remainder were those applications of a few independent inde-pendent lease brokers in Salt Lake City and Denver. Last week, BLM announced that it was increasing the, annual rental rates for oil and gas leases from 50 cents to $1 an acre effective February 1. |