The Bureau of Land Management generated $1,098,463 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction
Nov. 3, 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 $90 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.
Nov. 3, 2015
BLM Wyoming Competitive Sale Results Summary
Parcels Offered
39
Parcels Sold
38
% Parcels Sold
97.44%
Acres Offered
61,353.720
Acres Sold
58,999.920
% Acres Sold
96.16%
Average Bid/Acre
For Acres Offered
For Acres Sold
$17.90
$18.62
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$28,165.72
$28,906.92
Highest Bid/Acre
$90.00
Parcel with High Bid/Acre
25
Highest Bid/Parcel
$87,283.00
Parcel with High Total Bid
37
Total Bonus Bid
$1,098,463.00
Total Rental Due
$88,518.00
Total Administrative Fees Due
$6,080.00
Total Receipts Due
$1,193,061.00
Source: U.S. Department of the Interior, Bureau of Land Management
