BLM Oil and Gas Lease Sale Nets Over $9.4 Million

Organization:

BLM Wyoming State Office

BLM Office:

Wyoming State Office

Media Contact:

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.