BLM Oil & Gas Lease Sale nets nearly $11.9 Million
State of Wyoming to get half
by Bureau of Land Management
February 7, 2007
The Bureau of Land Management (BLM) generated $5,439,830 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on February 6, 2007. Half of the bid and rental receipts go to the State of Wyoming.
Bids totaling $5,185,074 ranged from the federally mandated minimum of $2 per acre to a high bid of $600 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre. A total of 156,712 acres in 151 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 April 3, 2007 in Cheyenne.
Oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 28,520,128 barrels of oil and 525,393,244 million cubic feet of gas, and generated $1,079,543,609 in federal oil and gas royalties last year. Half the royalty payments were disbursed to the State of Wyoming.
Wyoming Bureau of Land Management