BLM O&G lease sale nets nearly $11.9 million
State of Wyoming to get half
by Bureau of Land Management
December 7, 2006
The Bureau of Land Management generated $11,873,983 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on December 5, 2006. Half of the bid and rental receipts go to the State of Wyoming.
"Energy development drives the Wyoming economy and our state provides critical energy resources for the entire nation," said Wyoming BLM State Director Bob Bennett.
Bids totaling $11,545,471 ranged from the federally mandated minimum of $2 per acre to a high bid of $3,300 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre.
A total of 203,095 acres in 183 parcels were leased.
Parcels which didn't receive bids at the auction are available noncompetitively for the yearly rental fee ($1.50 per acre for the first five years and $2 per acre for the second five years) and a $335 administrative fee at the BLM office in Cheyenne.
The next oil and gas lease sale will be held on February 6, 2007 in Cheyenne.
Oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 29,819,011 barrels of oil and 1,410,476,831 thousand cubic feet of gas, and generated $799,217,792 in federal oil and gas royalties last year. Half the royalty payments were disbursed to the State of Wyoming.
December 2006 Wyoming Competitive Sale Results Summary:
Parcels Offered: 192
Parcels Sold: 183
% Parcels Sold: 95.31%
For Acres Offered: $55.09
For Acres Sold: $56.85
For Parcels Offered: $60,132.66
For Parcels Sold: $63,090.01
Highest Bid/Acre: $3,300.00
Parcel with High: 156
Highest Bid/Parcel: $4,224,000.00
Parcel with High Total: Bid 156
Total Bonus Bid: $11,545,471.00
Total Rental Due: $304,722.50
Total Administrative Fees Due: $23,790.00
Total Receipts Due: $11,873,983.00
BLM Pulls Energy Leases, Article by Whitney Royster (12/7/06, Jackson Hole Star-Tribune)