Geothermal lease sales during the third quarter of 2026 netted the US’ Bureau of Land Management almost US$26mn — with a cumulative total of over US$42mn for the first nine months of the year.
From July through September 2026, the BLM generated US$25.8mn in geothermal sales, the government agency announced.
For the nine-month period, from January to September, BLM reported US$42.4mn in geothermal lease sales, which, it noted, reflects “continuing industry interest.”
This figure includes another successful sale in June in New Mexico that generated US$16.6mn on 47 parcels totalling 152,381 acres.
The trend has continued into the fourth quarter after the BLM concluded geothermal lease sales in Nevada that generated almost US$5mn in receipts.
The BLM is planning further geothermal lease sales this season in Idaho and California.
Nonetheless, geothermal sales still represent only a small portion of the revenues generated by the BLM, in relation to the award of oil and gas leases.
During the third quarter, it received nearly US$400mn in total receipts from oil, gas and geothermal sales combined — dwarfing the US$25.8mn from geothermal awards.
Q3 lease sales
During the third quarter, a number of records were set, again underscoring the rise in interest in the nation’s geothermal potential.
In August, the BLM set records for the bureau’s highest parcel bid at $4,168,725, and highest per-acre bid at $1,207 — it was also the second largest lease sale in total dollars in the bureau’s history.
In Utah, the BLM accepted winning bids on 32 parcels totalling 72,398 acres for US$24.7mn.
Another August sale in Oregon brought in more than US$1.1mn on two parcels totalling more than 9,500 acres.
The combined bonus bids, rentals and subsequent royalties from any geothermal leases are distributed among the US Treasury, the states and counties where the leases are located.
The BLM is the US authority responsible for managing geothermal leasing, exploration and development on approximately 245 million surface acres of public lands and the 700 million acres where the United States owns the subsurface mineral estate.