U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
|Release Date: 08/04/09|
BLM Oil and Gas Lease Sale Nets Over $650,000, State of Wyoming to Get Nearly Half
The Bureau of Land Management generated $651,014.50 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on August 4, 2009. 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 State Director Don Simpson.
Bids totaling $592,560.00 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $240.00 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 $2.00 per acre in years six through 10.
A total of 34,847.570 acres in 44 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 Tuesday, October 2, 2009, in Cheyenne.
In fiscal year 2008, oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 28,556,565 barrels of oil and 1.6 trillion cubic feet of gas, which generated $1,566,255,630 in federal oil and gas royalties. Nearly half the royalty payments were disbursed to the State of Wyoming.
The BLM manages more than 245 million acres of public land, the most of any Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. The BLM's mission is to manage and conserve the public lands for the use and enjoyment of present and future generations under our mandate of multiple-use and sustained yield. In Fiscal Year 2014, the BLM generated $5.2 billion in receipts from public lands.
Wyoming State Office 5353 Yellowstone Cheyenne, WY 82009
|Last updated: 08-04-2009|
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