Wyoming State Office
| Contacts: | Roger Alexander | |||
| 307-775-6047 |
BLM Oil and Gas Lease Sale Nets Over $3.5 Million, State of Wyoming to Get Nearly Half
The Bureau of Land Management generated $3,596,211.50 for leasing rights and rental fees on parcels offered at the BLM's quarterly federal oil and gas lease auction held in Cheyenne on August 3, 2010. Almost half of the bid and rental receipts go to the State of Wyoming.
Bids totaling $3,468,725.00 ranged from the federally mandated minimum of $2 per acre to a high bid of $430.00 per acre. Successful bidders also pay a $145 per parcel one-time administrative 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 77,712.14 acres in 75 parcels were sold.
The next oil and gas lease sale will be held on Tuesday, November 2, 2010, in Cheyenne.
August 2010 Wyoming Competitive Sale Results Summary | ||
Parcels Offered | 76 | |
Parcels Sold | 75 | |
% Parcels Sold | 98.68% | |
Acres Offered | 79,312.14 | |
Acres Sold | 77,712.14 | |
% Acres Sold | 97.98% | |
Average Bid/Acre | | |
Average Bid/Parcel | | |
Highest Bid/Acre | $430.00 | |
Parcel with High Bid/Acre | 60 | |
Highest Bid/Parcel | $423,600.00 | |
Parcel with High Total Bid | 49 | |
Total Bonus Bid | $3,468,725.00 | |
Total Rental Due | $116,611.50 | |
Total Administrative Fees Due | $10,875.00 | |
Total Receipts Due | $3,596,211.50 | |
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 multiple-use mission is to sustain the health, diversity, and productivity of the public lands for the use and enjoyment of present and future generations. In Fiscal Year 2012, activities on public lands generated $4.6 billion in revenue, much of which was shared with the States where the activities occurred. In addition, public lands contributed more than $112 billion to the U.S. economy and helped support more than 500,000 jobs.
Wyoming State Office 5353 Yellowstone Cheyenne, WY 82009