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13,422 federal acres in Utah up for bid in December oil, gas lease sale

The U.S. Bureau of Land Management's Utah office will offer 24 parcels of land totaling 13,422 acres at a quarterly oil and gas lease sale to be held online Dec. 10, according to an Oct. 24 news release.

About 48% of the revenue from the sale will go to the state, while the remainder goes to the U.S. Treasury. If oil and gas are developed on the lease, the state also receives half of the revenues from it.

The leases are contracts to develop any potential oil and gas and have a primary term of 10 years. The leases may be extended if production is established.

The Bureau's Canyon Country, Color Country and Green River districts in Utah manage the lands the parcels are on.