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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
 
Release Date: 11/01/11
Contacts: Mary L. Wilson,    
  307-775-6015    

BLM Oil and Gas Lease Sale Nets over $3 Million,
State of Wyoming to Get Nearly Half


The Bureau of Land Management (BLM) generated more than $3 million for leasing rights and rental fees on parcels offered at the BLM's quarterly Federal oil and gas lease auction held in Cheyenne on Nov. 1. Almost half of the bid and rental receipts go to the State of Wyoming.

Bids totaling $3,173,293.00 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $340.00 per acre. Successful bidders also pay a $150 per parcel one-time administrative fee and a 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 48,227 acres in 50 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.

The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Feb. 7, 2012, in Cheyenne.

November 1, 2011 
Wyoming Competitive Sale Results Summary

Parcels Offered 

50

Parcels Sold

50

% Parcels Sold

100%

Acres Offered

48,227.740

Acres Sold

48,227.740

% Acres Sold

100%

Average Bid/Acre
    For Acres Offered
    For Acres Sold


$65.80
$65.80

Average Bid/Parcel
    For Parcels Offered
    For Parcels Sold

 
$63,465.86
$63,465.86

Highest Bid/Acre

$340.00

Parcel with High Bid/Acre

 47

Highest Bid/Parcel

$762,960.00

Parcel with High Total Bid 

47

Total Bonus Bid

$3,173,293.00

Total Rental Due

$72,366.00

Total Administrative Fees Due

$7,500.00

Total Receipts Due

$3,253,159.00



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: 11-07-2011