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December 3, 2008

Contact: 
    Roger Alexander
    307-775-6047

BLM Oil and Gas Lease Sale Nets Over $9 Million,
 State of Wyoming to Get Nearly Half

The Bureau of Land Management generated $9,120,947.50 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on Dec. 2, 2008. Almost half of the bid and rental receipts go to the State of Wyoming.

"Energy development is an important component of the Wyoming economy and provides critical energy resources for the entire nation," said BLM Wyoming Acting State Director Don Simpson.

Bids totaling $8,838,600.00 ranged from the federally mandated minimum of $2 per acre to a high bid of $460.00 per acre. Successful bidders also pay a $140 per parcel administrative one-time fee and yearly rental of $1.50 per acre for the first five years of the lease and $2 per acre in years six through 10.

A total of 172,885.510 acres in 164 parcels were sold.

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 $360 administrative fee at the BLM office in Cheyenne.

The next oil and gas lease sale will be held on February 3, 2008, in Cheyenne.

In fiscal year 2007, oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 29,844,078 barrels of oil and 1,392,972,656 million cubic feet of gas, which generated $1,045,114,191 in federal oil and gas royalties. Nearly half the royalty payments were disbursed to the State of Wyoming.

December 2008 
Wyoming Competitive Sale Results Summary 

Parcels Offered 

184

Parcels Sold

164 

% Parcels Sold

89.13%

Acres Offered

197,275.750

Acres Sold

172,885.510 

% Acres Sold

87.64%

Average Bid/Acre
    For Acres Offered
    For Acres Sold


$44.80
$51.12

Average Bid/Parcel
    For Parcels Offered
    For Parcels Sold


$48,035.87
$53,893.90

Highest Bid/Acre

$460.00

Parcel with High Bid/Acre

 1

Highest Bid/Parcel

$584,700.00

Parcel with High Total Bid 

 54

Total Bonus Bid

$8,838,600.00

Total Rental Due

$259,387.50

Total Administrative Fees Due

$22,960.00

Total Receipts Due

$9,120,947.50

 

-BLM-