he Bureau of Land Management (BLM) generated $8,950,305.50 for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Nov. 4, 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 $1,030.00 per acre. Successful bidders also pay a $155 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, Feb. 3, 2015, in Cheyenne.
November 4, 2014
BLM Wyoming Competitive Sale Results Summary
Parcels Offered
89
Parcels Sold
88
% Parcels Sold
98.88%
Acres Offered
114,142.280
Acres Sold
114,102.110
% Acres Sold
99.96%
Average Bid/Acre
For Parcels Offered
For Acres Sold
$76.79
$76.82
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$98,488.45
$99,607.64
Highest Bid/Acre
$1,030.00
Parcel with High Bid/Acre
50
Highest Bid/Parcel
$1,630,980.00
Parcel with High Total Bid
85
Total Bonus Bid
$8,765,472.00
Total Rental Due
$171,193.50
Total Administrative Fees Due
$13,640.00
Total Receipts Due
$8,950,305.50
Source: U.S. Department of the Interior, Bureau of Land Management
