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June 6, 2007

Contact: Kristen Lenhardt,
307-775-6103

BLM Oil and Gas Lease Sale Nets Nearly $14.2
Million, State of Wyoming to Get Half

The Bureau of Land Management generated $14,158,755 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on June 5, 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 $13,870,658 ranged from the federally mandated minimum of $2 per acre to a high bid of $405 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre.

A total of 178,236 acres in 159 parcels were leased.

Parcels that 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 Aug. 7, 2007, in Cheyenne.

Last year, 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, which generated $1,079,543,609 in federal oil and gas royalties. Half the royalty payments were disbursed to the State of Wyoming.

June 2007
Wyoming Competitive Sale Results Summary

Parcels Offered:

164

Parcels Sold:

159

% Parcels Sold:

96.95%

Acres Offered:

181,100.63

Acres Sold:

178,236.50

% Acres Sold:

98.42%

Average Bid/Acre
   For Acres Offered:
   For Acres Sold:

$76.59
$77.82

Average Bid/Parcel
   For Parcels Offered:
   For Parcels Sold:

$84,577.18
$87,236.84

Highest Bid/Acre:

$405.00

Parcel with Highest Bid/Acre:

114

Highest Bid/Parcel:

$611,600.00

Parcel with High Total Bid:

82

Total Bonus Bid:

$13,870,658.00

Total Rental Due:

$267,427.50

Total Administrative Fees Due:

$20,670.00

Total Receipts Due:

$14,158,755.50

 -BLM-