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Feb. lease sale netted millions

Feb 16, 2017 - From staff reports

In a good sign for the rebound of Wyoming's economy, the Bureau of Land Management generated $129.3 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction on Feb. 7 in Cheyenne.

Almost half of the bid and rental receipts go to the state of Wyoming.

The February Lease Sale included 285 parcels from the BLM's High Plains and Wind River Bighorn Basin Districts.

Bids ranged from $2 per acre to a high bid of $16,500.00 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.

The agency sold 99 percent of the 184,792 acres that were offered.

278 parcels were sold at an average price of $463,951.

The highest bid was a $18.1 million offer that expended $16,500 per acre.

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