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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
 
Release Date: 02/01/11
Contacts: Roger Alexander    
  307-775-6047    

BLM Oil and Gas Lease Sale Nets Over $2 Million,
State of Wyoming to Get Nearly Half


The Bureau of Land Management generated $2,177,122.00 for leasing rights and rental fees on parcels offered at the BLM's quarterly federal oil and gas lease auction held in Cheyenne on Feb. 1, 2011. 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 $2,153,003.00 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $700.00 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 13,267.26 acres in 29 parcels were sold.

The next oil and gas lease sale will be held on Tuesday, May 3, 2011 in Cheyenne.

February 1, 2011 

Wyoming Competitive Sale Results Summary

Parcels Offered 

30

Parcels Sold

 29

% Parcels Sold

96.67%

Acres Offered

13,307.26

Acres Sold

13,267.26 

% Acres Sold

99.70%

Average Bid/Acre
    For Acres Offered
    For Acres Sold

 
$161.79
$162.28

Average Bid/Parcel
    For Parcels Offered
    For Parcels Sold

 
$71,766.77
$74,241.48

Highest Bid/Acre

$700.00

Parcel with High Bid/Acre

 13

Highest Bid/Parcel

$306,000.00

Parcel with High Total Bid 

 11

Total Bonus Bid

$2,153,003.00

Total Rental Due

$19,914.00

Total Administrative Fees Due

$4,205.00

Total Receipts Due

$2,177,122.00



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      Cheyenne, WY 82009  

Last updated: 02-01-2011