BLM Oil and Gas Lease Sale Nets Over $129 Million
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The Bureau of Land Management generated $129.3 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction on February 7, in Cheyenne. Almost half of the bid and rental receipts go to the state of Wyoming.
The February Lease Sale included 285 parcels from the BLM’s High Plains and Wind River Bighorn Basin Districts. Bids ranged from $2 per acre to a high bid of $16,500.00 per acre. Successful bidders also pay a $160 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.
February 7, 2017 BLM Wyoming Competitive Sale Results Summary
Sale Summary
- Total Bonus Bid = $128,978,446.00
- Total Rental Due = $274,912.50
- Total Administrative Fees Due = $44,480.00
- Total Receipts Due = $129,297,838.50
Bidding Summary
- Highest Bid/Acre = $16,500.00
- Parcel with High Bid/Acre = 161
- Highest Bid/Parcel = $18,144,000.00
- Parcel with Highest Bid = 127
Parcel Summary
- Parcels Offered = 285
- Parcels Sold = 278
- % Parcels Sold = 97.54%
- Average Bid/Parcel Sold = $463,951.24
Acre Summary
- Acres Offered = 184,792.900
- Acres Sold = 183,155.020
- % Acres Sold = 99.11%
- Average Bid/Acre Sold = $704.20
The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.