Wyoming State Office
| Contacts: | David Quick | |||
| 202-912-7413 |
BLM Oil and Gas Lease Sale Nets $49 Million, State of Wyoming to Get Nearly Half
The Bureau of Land Management (BLM) generated $49,197,236.00 for leasing rights and rental fees on parcels offered at the BLM's quarterly Federal oil and gas lease auction held in Cheyenne on August 2, 2011, making this the highest dollar amount earned in a single sale in recent BLM Wyoming history. Almost half of the bid and rental receipts go to the State of Wyoming.
“The success of today’s lease sale in Wyoming reflects this administration’s commitment to balanced and responsible development of America’s conventional and renewable energy resources,” said BLM Director Bob Abbey. “Our leasing policies ensure environmental protection of important natural resources on BLM-managed lands, while at the same time aiding in orderly development of oil and natural gas deposits and reducing our dependence on imported oil.”
Bids totaling $49,061,919.00 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $4,500.00 per acre. Successful bidders also pay a $145 per parcel one-time administrative fee and a yearly rental of $1.50 per acre for the first 5 years of the lease and $2 per acre in years 6 through 10. A total of 83,038.150 acres in 74 parcels were sold, representing all of the acreage offered by the BLM in this sale.
The National System of Public Lands yielded $40 billion worth of energy and non-energy minerals in Fiscal Year 2010. The extraction of these resources and their introduction into the market boosted the American economy by approximately $103 billion.
Today’s sale in Wyoming is the 18th onshore Federal oil and gas lease sale held this year by the BLM. So far in 2011, the BLM has offered 830 parcels covering more than 605,000 acres. The BLM has sold 764 of the parcels offered, generating more than $174 million in revenue for American taxpayers.
The next BLM oil and gas lease sale is scheduled for Thursday, Aug. 11, 2011, in Denver. The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Nov. 1 in Cheyenne.
August 2, 2011 Wyoming Competitive Sale Results Summary | ||
Parcels Offered | 74 | |
Parcels Sold | 74 | |
% Parcels Sold | 100% | |
Acres Offered | 83,038.15 | |
Acres Sold | 83,038.15 | |
% Acres Sold | 100% | |
Average Bid/Acre | | |
Average Bid/Parcel | | |
Highest Bid/Acre | $4,500.00 | |
Parcel with High Bid/Acre | 32 | |
Highest Bid/Parcel | $8,280,000.00 | |
Parcel with High Total Bid | 32 | |
Total Bonus Bid | $49,061,919.00 | |
Total Rental Due | $124,587.00 | |
Total Administrative Fees Due | $10,730.00 | |
Total Receipts Due | $49,197,236.00 | |
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 Road Cheyenne, Wyoming 82009