U.S. DEPARTMENT OF THE INTERIORBUREAU OF LAND MANAGEMENT
Wyoming News Release
 
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February 7, 2007
Contact: Kristen Lenhardt
307-775-6103

BLM Oil & Gas Lease Sale Nets $5.4 Million,
State of Wyoming to Get Half

The Bureau of Land Management generated $5,439,830 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on Feb. 6, 2007. 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.

Bids totaling $5,185,074 ranged from the federally mandated minimum of $2 per acre to a high bid of $600 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre.

A total of 156,712 acres in 151 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 April 3, 2007 in Cheyenne.

Oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 28,520,128 barrels of oil and 525,393,244 million cubic feet of gas, and generated $1,079,543,609 in federal oil and gas royalties last year. Half the royalty payments were disbursed to the State of Wyoming.

February 2007
Wyoming Competitive Sale Results Summary

Parcels Offered

193

Parcels Sold 

151

% Parcels Sold

78.24%

Acres Offered

219,880.230

Acres Sold

156,712.120

% Acres Sold

71.27%

Average Bid/Acre
For Acres Offered
For Acres Sold


$23.58
$33.09

Average Bid/Parcel
For Parcels Offered For Parcels Sold

$26,865.67
$34,338.24

Highest Bid/Acre:

$600.00

Parcel with High1

59

Highest Bid/Parcel:

$384,864.00

Parcel with High Total Bid

75

Total Bonus Bid

$5,185,074.00

Total Rental Due

$235,126.50

Total Administrative Fees Due

$19,630.00

Total Receipts Due

$5,439,830.50

-BLM-

 


 
Last updated: 03-03-2007