BLM Wyoming leases 114 oil and gas parcels in March sale, nets nearly $12 million
CHEYENNE, Wyo. — The Bureau of Land Management Wyoming raised $11.8 million in its quarterly oil and gas lease sale held March 19-20 online. The BLM received bids on 114 parcels totaling about 96,000 acres.
The BLM reviewed 146 nominated parcels for this sale. Based on our public review process and in close coordination with the State of Wyoming, we deferred six whole parcels and parts of two others because they intersect State-designated big game migration corridors.
The BLM applies stipulations to lease terms as appropriate to protect other resources in the area. In addition, all parcels overlapping big game migration corridors include a special lease notice requiring lessees to work with the BLM and the Wyoming Game and Fish Department to minimize potential impacts from development. Before development can begin, the BLM must approve a separate drilling permit based on further analysis of site-specific plans and conditions.
Nearly half of the revenue from every lease sale goes directly to the State of Wyoming. If leases result in producing oil or gas wells, royalties from production are also shared with the State. Oil and gas leases are valid for a term of 10 years and as long thereafter as they produce in paying quantities.
The BLM’s oil and gas lease sales support American energy independence and the Administration’s America-First Energy Plan, an all-of-the-above approach that promotes the safe development of oil and gas, coal, strategic minerals and renewable sources on public lands. For more information, please visit https://go.usa.gov/xEdur.
We will post a detailed results summary on the web within the coming week.
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.