The Bureau of Land Management (BLM) generated over $33.9 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Aug. 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 $7,600 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, Nov. 5, in Cheyenne.
August 6, 2013
BLM Wyoming Competitive Sale Results Summary
Parcels Offered
134
Parcels Sold
113
% Parcels Sold
84.33%
Acres Offered
79,248.910
Acres Sold
56,061.790
% Acres Sold
70.74%
Average Bid/Acre
For Parcels Offered
For Acres Sold
$427.74
$604.65
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$252,967.57
$299,979.24
Highest Bid/Acre
$7,600.00
Parcel with High Bid/Acre
85
Highest Bid/Parcel
$16,324,800.00
Parcel with High Total Bid
85
Total Bonus Bid
$33,897,654.00
Total Rental Due
$84,130.50
Total Administrative Fees Due
$16,950.00
Total Receipts Due
$33,998,734.50
Source: U.S. Department of the Interior, Bureau of Land Management
