BLM Logo
U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
 
Release Date: 05/03/11
Contacts: Beverly Gorny    
  307-775-6158    

BLM Oil and Gas Lease Sale Nets Nearly $1 Million, State of Wyoming to Get Nearly Half


The Bureau of Land Management generated $998,089.00 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 3, 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 $975,462.00 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $195 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 13,821.96 acres in 13 parcels were sold.

The next oil and gas lease sale will be held on Tues., August 2, 2011, in Cheyenne.

May 3, 2011 

Wyoming Competitive Sale Results Summary

Parcels Offered 

13

Parcels Sold

13

% Parcels Sold

100.00%

Acres Offered

13,821.96

Acres Sold

 13,821.96 

% Acres Sold

100.00%

Average Bid/Acre
    For Acres Offered
    For Acres Sold

 
$70.57
$70.57

Average Bid/Parcel
    For Parcels Offered
    For Parcels Sold

 
$75,035.54
$75,035.54

Highest Bid/Acre

$195.00

Parcel with High Bid/Acre

 7

Highest Bid/Parcel

$218,400.00

Parcel with High Total Bid 

 7

Total Bonus Bid

$975,462.00

Total Rental Due

$20,742.00

Total Administrative Fees Due

$1,885.00

Total Receipts Due

$998,089.00


 



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: 05-03-2011