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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
 
Release Date: 08/07/12
Contacts: Tyson Finnicum    
  307-775-6045    

BLM Oil and Gas Sale Nets More Than $6 Million


The Bureau of Land Management (BLM) generated nearly $6.5 million for leasing rights and rental fees on parcels offered at the BLM's quarterly federal oil and gas lease auction held Aug. 7, in Cheyenne. Almost half of the bid and rental receipts go to the State of Wyoming.

Bids totaling $6,374,395.00 ranged from the federally mandated minimum of $2.00 per acre to a high bid of $2,200.00 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. All 116 parcels offered, which totaled 59,986.72 acres, were sold.

The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Nov. 6, 2012, in Cheyenne.

August 7, 2012 
Wyoming Competitive Sale Results Summary

Parcels Offered 

116

Parcels Sold

116

% Parcels Sold

100%

Acres Offered

59,986.72

Acres Sold

59,986.72

% Acres Sold

100%

Average Bid/Acre
    For Acres Offered
    For Acres Sold


$106.26
$106.26

Average Bid/Parcel
    For Parcels Offered
    For Parcels Sold

 
$54,951.68
$64,951.68

Highest Bid/Acre

$2,200.00

Parcel with High Bid/Acre

 73

Highest Bid/Parcel

$880,000.00

Parcel with High Total Bid 

69

Total Bonus Bid

$6,374,395.00

Total Rental Due

$90,028.50

Total Administrative Fees Due

$17,400.00

Total Receipts Due

$6,481,823.50



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, WY 82009  

Last updated: 08-08-2012