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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
 
Release Date: 11/06/12
Contacts: Mary L. Wilson,    
  307-214-7968    

BLM Oil and Gas Sale Nets Nearly $3.7 Million


The Bureau of Land Management (BLM) generated nearly $3.7 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Nov. 6, in Cheyenne. Almost half of the bid and rental receipts go to the State of Wyoming.

Bids ranged from the federally mandated minimum of $2.00 per acre to a high bid of $500 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.

The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Feb. 5, 2013, in Cheyenne.

November 6, 2012

Wyoming Competitive Sale Results Summary

Parcels Offered

94

Parcels Sold

76

% Parcels Sold

80.85%

Acres Offered

119,395.630

Acres Sold

103,448.490

% Acres Sold

86.64

Average Bid/Acre

   For Parcels Offered

   For Acres Sold

 

$29.57

$34.13

Average Bid/Parcel

   For Parcels Offered

   For Parcels Sold

 

$37,563.00

$46,459.50

Highest Bid/Acre

$500.00

Parcel with High Bid/Acre

31

Highest Bid/Parcel

$503,620.00

Parcel with High Total Bid

30

Total Bonus Bid

$3,530,922.00

Total Rental Due

$155,206.50

Total Administrative Fees Due

$11,400.00

Total Receipts Due

$3,697,528.50



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      Cheyenne, WY 82009   

Last updated: 11-06-2012