Wyoming Range O&G leases sell for over $2 million
State of Wyoming to get half of revenue
by Bureau of Land Management
April 10, 2006
The Bureau of Land Management (BLM) generated $9.6 million for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on April 4, 2006. Half of the bid and rental receipts go to the State of Wyoming.
"Energy development drives the Wyoming economy and our state provides critical energy resources for the entire nation," said Wyoming BLM State Director Bob Bennett.
Oil and gas leases on 11 parcels located in the Bridger Teton National Forest sold for a total of $2,246,202. The leases were acquired by Kirkwood Oil and Gas, LLC., Stanley Energy, Inc., and Hanson & Strahn, Inc.
Oil and gas leases on six parcels in the McCollough Peaks area sold for a total of $128,724.
Bids totaling $9.3 million ranged from the federally mandated minimum of $2 per acre to $1,025 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre.
A total of 176,896 acres in 161 parcels were offered at the sale. All but one 91-acre parcel sold.
Parcels which didn't receive bids at the auction are available noncompetitively for the yearly rental fee ($1.50 per acre for the first five years and $2 per acre for the second five years) and a $335 administrative fee at the BLM office in Cheyenne.
The next oil and gas lease sale will be held on June 6, 2006 in Cheyenne.
Oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 29,819,011 barrels of oil and 1,410,476,831 thousand cubic feet of gas, and generated $799,217,792 in federal oil and gas royalties last year. Half the royalty payments were disbursed to the State of Wyoming.
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