BLM Oil and Gas lease sale nets over $12 million
Feds & State of Wyoming get royalties
by Bureau of Land Management
August 7, 2007
The Bureau of Land Management (BLM) generated a total of $12,484,820 at the competitive oil and gas oral auction Tuesday in Cheyenne. BLM Wyoming offered 179 parcels for lease and 145 of those parcels comprising 149,110 acres sold at the sale. Half of the money generated will go to the State of Wyoming.
The highest bid per acre was $720 for a 160.00 acre parcel located in Converse County, while the highest bid per parcel was $895,300 for a 1,279 acre parcel also located in Converse County. The competitive interest in the sale was demonstrated by receiving multiple bids on 112 of the 145 parcels sold.
The next oil and gas lease sale will be held on Oct. 2, 2007 at the Holiday Inn in Cheyenne. Last year, oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming generated $1,079,543,609 in federal oil and gas royalties. Half the royalty payments were disbursed to the State of Wyoming.
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