BLM Oil and Gas Lease Sale Nets Over $9.4 Million
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The Bureau of Land Management generated $9.4 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction on November 1, in Cheyenne. Almost half of the bid and rental receipts go to the state of Wyoming.
The November Lease Sale included 21 parcels from the BLM’s High Desert District. Bids ranged from $8 per acre to a high bid of $1,750 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.
November 1, 2016 BLM Wyoming Competitive Sale Results Summary | |
Parcels Offered | 21 |
Parcels Sold | 21 |
% Parcels Sold | 100% |
Acres Offered | 32,422.02 |
Acres Sold | 32,422.02 |
% Acres Sold | 100% |
Average Bid/Acre For Acres Offered For Acres Sold |
$288.36 $288.36 |
Average Bid/Parcel For Parcels Offered For Parcels Sold |
$445,199.90 $445,199.90 |
Highest Bid/Acre | $1,750.00 |
Parcel with High Bid/Acre | 13 |
Highest Bid/Parcel | $3,389,750.00 |
Parcel with High Total Bid | 13 |
Total Bonus Bid | $9,349,198.00 |
Total Rental Due | $48,645.00 |
Total Administrative Fees Due | $3,360.00 |
Total Receipts Due | $9,401,203.00 |
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.