Federal oil & gas lease sale nets $14M
— February 13, 2014
(Press release) — The Bureau of Land Management (BLM) generated more than $14 million for leasing rights on parcels offered at the BLM’s quarterly federal oil and gas lease auction held Tuesday 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 $5,400 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, May 6, 2014, in Cheyenne.
February 11, 2014, competitive sale results summary:
Parcels Offered: 165
Parcels Sold: 165Acres Offered: 152,035.120
Acres Sold: 152,035.120Average Bid/Acre
For Parcels Offered: $90.94
For Acres Sold: $90.94Average Bid/Parcel
For Parcels Offered: $83,790.61
For Parcels Sold: $83,790.61Highest Bid/Acre: $5,400.00
Highest Bid/Parcel: $936,000.00Total Bonus Bid: $13,825,450.00
Total Rental Due: $228,112.50
Total Administrative Fees Due: $25,575.00
Total Receipts Due: $14,079,137.50
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