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U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
Wyoming State Office
 
Release Date: 08/06/14
Contacts: Beverly Gorny    
  307-775-6158    

BLM Oil and Gas Sale Nets Over $11 Million


The Bureau of Land Management (BLM) generated $11,064,900.00 for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Aug. 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 $4,900 per acre. Successful bidders also pay a $155 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, Nov. 4, 2014, in Cheyenne.

August 5, 2014
BLM Wyoming Competitive Sale Results Summary

Parcels Offered
77
Parcels Sold
74
% Parcels Sold
96.10%
Acres Offered
41,802.220
Acres Sold
40,601.380
% Acres Sold
97.13%
Average Bid/Acre
For Parcels Offered
For Acres Sold
$262.96
$270.74
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$142,759.66
$148,547.22
Highest Bid/Acre
$4,900.00
Parcel with High Bid/Acre
31
Highest Bid/Parcel
$2,043,000.00
Parcel with High Total Bid
42
Total Bonus Bid
$10,992,494.00
Total Rental Due
$60,936.00
Total Administrative Fees Due
$11,470.00
Total Receipts Due
$11,064,900.00



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: 08-07-2014