Oil and Gas Lease Auctioned Off in Cassia County

BOISE, Idaho (AP) — The Idaho Department of Lands has auctioned off oil and gas leases on 5,250 acres of state-owned land in southern Idaho for $263,000.

The Idaho Department of Lands says Trendwell West Inc. was awarded eight tracts for $190,000 on Wednesday, and that Alta Mesa Idaho was awarded three tracts for $73,000. The leases are for about 4,500 acres in Owyhee County, 600 acres in Cassia County and 160 acres in Gem County.

Counting previous auctions, state officials say they've now leased about 98,000 acres of state-owned lands for oil and gas development. On profitable wells, the state will receive a 12.5 percent royalty.