Wyoming State Office
| Contacts: | Beverly Gorny | |||
| 307-775-6158 |
BLM Oil and Gas Sale Nets Nearly $7.8 Million
The Bureau of Land Management (BLM) generated nearly $7.8 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Feb. 5, 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 per acre to a high bid of $2,900 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, May 7, in Cheyenne.
February 5, 2013 Wyoming Competitive Sale Results Summary | |
Parcels Offered | 162 |
Parcels Sold | 136 |
% Parcels Sold | 83.95% |
Acres Offered | 107,897.910 |
Acres Sold | 85,736.770 |
% Acres Sold | 79.46 |
Average Bid/Acre For Parcels Offered For Acres Sold | $70.84 $89.15 |
Average Bid/Parcel For Parcels Offered For Parcels Sold | $47,181.28 $56,201.24 |
Highest Bid/Acre | $2,900.00 |
Parcel with High Bid/Acre | 59 |
Highest Bid/Parcel | $964,800.00 |
Parcel with High Total Bid | 62 |
Total Bonus Bid | $7,643,368.00 |
Total Rental Due | $128,661.00 |
Total Administrative Fees Due | $20,400.00 |
Total Receipts Due | $7,792,429.00 |
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 multiple-use mission is to sustain the health, diversity, and productivity of the public lands for the use and enjoyment of present and future generations. In Fiscal Year 2012, activities on public lands generated $4.6 billion in revenue, much of which was shared with the States where the activities occurred. In addition, public lands contributed more than $112 billion to the U.S. economy and helped support more than 500,000 jobs.
Wyoming State Office 5353 Yellowstone Road Cheyenne, Wyoming 82009