|Date: August 1, 2006|
Contact: Steven Hall
BLM Oil and Gas Lease Sale Nets nearly $6.2 Million,
State of Wyoming to Get Half
The Bureau of Land Management generated $6,174,508 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on Aug. 1, 2006. Half of the bid and rental receipts go to the State of Wyoming.
"Energy development drives the Wyoming economy and our state provides critical energy resources for the entire nation," said Wyoming BLM State Director Bob Bennett.
Oil and gas leases on 10 parcels located in the Bridger-Teton National Forest sold for a total of $ 905,852. The U.S. Forest Service decides which Forest Service parcels will be sold at BLM lease sales.
Bids totaling $5,927,816 ranged from the federally mandated minimum of $2 per acre to a high bid of $2,700 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre.
A total of 147,428 acres in 196 parcels were leased.
Parcels which didn't receive bids at the auction are available noncompetitively for the yearly rental fee ($1.50 per acre for the first five years and $2 per acre for the second five years) and a $335 administrative fee at the BLM office in Cheyenne.
The next oil and gas lease sale will be held on Oct. 3, 2006 in Cheyenne.
Oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 29,819,011 barrels of oil and 1,410,476,831 thousand cubic feet of gas, and generated $799,217,792 in federal oil and gas royalties last year. Half the royalty payments were disbursed to the State of Wyoming.
|August 2006 |
Wyoming Competitive Sale Results Summary
|Parcels Sold||196 |
|% Parcels Sold||94.69%|
|Acres Offered||154,385.620 |
|Acres Sold ||147,428.470 |
|% Acres Sold||95.49%|
For Acres Offered
For Acres Sold
For Parcels Offered
For Parcels Sold
|Highest Bid/Acre: |
|Parcel with High||136|
|Highest Bid/Parcel: |
|Parcel with High Total Bid ||181|
|Total Bonus Bid ||$5,927,816.00|
|Total Rental Due ||$221,212.50|
|Total Administrative Fees Due ||$25,480.00|
|Total Receipts Due ||$6,174,508.50|