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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
 
Release Date: 08/02/11
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
    For Acres Offered
    For Acres Sold

 
$590.84
$590.84

Average Bid/Parcel
    For Parcels Offered
    For Parcels Sold

 
$662,998.91
$662,998.91

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. 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 2013, the BLM generated $4.7 billion in receipts from public lands.
--BLM--

Wyoming State Office   5353 Yellowstone Road      Cheyenne, Wyoming 82009  

Last updated: 08-03-2011