BLM Oil and Gas Sale Nets Over $10 Million
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The Bureau of Land Management (BLM) generated over $10 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held May 6, in Cheyenne. Almost half of the bid and rental receipts go to the State of Wyoming.
Bids ranged from the federally mandated minimum of $2 per acre to a high bid of $1,525 per acre. Successful bidders also pay a $150 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.
The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Aug. 5, 2014, in Cheyenne.
May 6, 2014
BLM Wyoming Competitive Sale Results Summary
Parcels Offered
53
Parcels Sold
53
% Parcels Sold
100%
Acres Offered
52,349.950
Acres Sold
52,349.950
% Acres Sold
100%
Average Bid/Acre
For Parcels Offered
For Acres Sold
$205.87
$205.87
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$203,344.87
$203,344.87
Highest Bid/Acre
$1,525.00
Parcel with High Bid/Acre
45
Highest Bid/Parcel
$2,431,300.00
Parcel with High Total Bid
37
Total Bonus Bid
$10,777,276.00
Total Rental Due
$78,550.50
Total Administrative Fees Due
$8,215.00
Total Receipts Due
$10,864,041.50
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.