BLM Wyoming Oil and Gas Sales Net Over $5.7 Million
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The Bureau of Land Management generated $5 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction on May 3, in Cheyenne. Almost half of the bid and rental receipts go to the state of Wyoming.
The May Lease Sale included 30 parcels from the BLM's High Desert District. The BLM also offered 80 parcels from the Wind River/Bighorn Basin and High Plains Districts originally scheduled for sale in February. The February Lease Sale was postponed due to a severe winter storm in Cheyenne on the original sale date.
Bids ranged from the federally mandated minimum of $2 per acre to a high bid of $2,100 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.
May 3, 2016 BLM Wyoming Competitive Sale Results Summary
Parcels Offered 30
Parcels Sold 29
% Parcels Sold 96.67%
Acres Offered 27,070.52
Acres Sold 26,950.52
% Acres Sold 99.56%
Average Bid/Acre For Acres Offered For Acres Sold $10.87 $10.92
Average Bid/Parcel For Parcels Offered For Parcels Sold $9,809.80 $10,148.07
Highest Bid/Acre $33.00
Parcel with High Bid/Acre 13
Highest Bid/Parcel $53,816.00
Parcel with High Total Bid 12
Total Bonus Bid $294,294.00
Total Rental Due $40,438.50
Total Administrative Fees Due $4,640.00
Total Receipts Due $339,372.50
February 2, 2016 BLM Wyoming Competitive Sale Results Summary
Parcels Offered 80
Parcels Sold 66
% Parcels Sold 82.5%
Acres Offered 78,912.760
Acres Sold 62,658.280
% Acres Sold 79.40%
Average Bid/Acre For Acres Offered For Acres Sold $67.38 $84.86
Average Bid/Parcel For Parcels Offered For Parcels Sold $ 66,466.79 $80,565.80
Highest Bid/Acre $2,100.00
Parcel with High Bid/Acre 37
Highest Bid/Parcel $2,656,800.00
Parcel with High Total Bid 18
Total Bonus Bid $5,317,343.00
Total Rental Due $94,015.50
Total Administrative Fees Due $10,560.00
Total Receipts Due $5,421,918.50
-BLM-
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.