Wyoming State Office
| Contacts: | Roger Alexander 307-775-6047 |
BLM Oil and Gas Lease Sale Nets Over $32 Million, State of Wyoming to Get Nearly Half
The Bureau of Land Management generated $32,451,630.00 for leasing rights and rental fees on parcels offered at the BLM's quarterly federal oil and gas lease auction held in Cheyenne on May 11, 2010. Almost half of the bid and rental receipts go to the State of Wyoming.
Bids totaling $32,333,751.00 ranged from the federally mandated minimum of $2 per acre to a high bid of $3,150 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 70,446.45 acres in 84 parcels were sold.
The next oil and gas lease sale will be held on Tuesday, Aug. 3, 2010, in Cheyenne.
May 2010 Wyoming Competitive Sale Results Summary | ||
Parcels Offered | 84 | |
Parcels Sold | 84 | |
% Parcels Sold | 100% | |
Acres Offered | 70,446.45 | |
Acres Sold | 70,446.45 | |
% Acres Sold | 100% | |
Average Bid/Acre | $458.98 | |
Average Bid/Parcel | $384,925.61 | |
Highest Bid/Acre | $3,150.00 | |
Parcel with High Bid/Acre | 34 | |
Highest Bid/Parcel | $5,430,600.00 | |
Parcel with High Total Bid | 34 | |
Total Bonus Bid | $32,333,751.00 | |
Total Rental Due | $105,699.00 | |
Total Administrative Fees Due | $12,180.00 | |
Total Receipts Due | $32,451,630.00 | |
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. In Fiscal Year (FY) 2011, recreational and other activities on BLM-managed land contributed more than $130 billion to the U.S. economy and supported more than 600,000 American jobs. The Bureau is also one of a handful of agencies that collects more revenue than it spends. In FY 2012, nearly $5.7 billion will be generated on lands managed by the BLM, which operates on a $1.1 billion budget. The BLM's multiple-use mission is to sustain the health and productivity of the public lands for the use and enjoyment of present and future generations. The Bureau accomplishes this by managing such activities as outdoor recreation, livestock grazing, mineral development, and energy production, and by conserving natural, historical, cultural, and other resources on public lands.
Wyoming State Office 5353 Yellowstone Cheyenne, WY 82009