U.S. DEPARTMENT OF THE INTERIORBUREAU OF LAND MANAGEMENT
Wyoming News Release
 
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April 3, 2007
Contact: Kristen Lenhardt
307-775-6103

BLM Oil and Gas Lease Sale Nets nearly $5.9 Million,
State of Wyoming to Get Half

The Bureau of Land Management generated $5,891,346 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on April 3, 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 $5,651,292 ranged from the federally mandated minimum of $2 per acre to a high bid of $340 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre.

A total of 148,650 acres in 131 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 June 5, 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.

April 2007
Wyoming Competitive Sale Results Summary

Parcels Offered

159

Parcels Sold

131

% Parcels Sold

82.39%

Acres Offered

182,321.320

Acres Sold

148,650.480

% Acres Sold

81.53%

Average Bid/Acre
     For Acres Offered
     For Acres Sold


$31.00
$38.02

Average Bid/Parcel
     For Parcels Offered
     For Parcels Sold


$35,542.72
$43,139.63

Highest Bid/Acre:

$340.00

Parcel with High

108

Highest Bid/Parcel:

$868,360.00

Parcel with High Total Bid

108

Total Bonus Bid

$5,651,292.00

Total Rental Due

$223,024.50

Total Administrative Fees Due

$17,030.00

Total Receipts Due

$5,891,346.50

 

-BLM-

 


 
Last updated: 04-05-2007