The Bureau of Land Management (BLM) generated nearly $1 million at an auction Tuesday from the sale of oil and gas leases on about 13,820 acres in Wyoming.
The BLM said receipts totaled $998,089 for 13 parcels comprising 13,821.96 acres. The average bid/acre was $70.57 while the average bid/parcel was $75,035.54. Additionally, the highest bid/acre was $195 and the highest bid/parcel was $218,400, both by Denver-based Contex Energy Co. for a 1,200-acre parcel. By comparison, the minimum price required by the federal government was $2/acre.
Successful bidders paid $975,462 for their actual bids but also paid an additional $20,742 in rental payments ($1.50/acre for the first five years, $2/acre in years six through 10), and $1,885 in administrative fees (a one-time fee of $145/parcel).
Almost half of the bid and rental receipts will go to the state of Wyoming.
The BLM will offer 74 more parcels on Aug. 2 in Cheyenne. The parcels total 83,038.15 acres and are in Big Horn, Campbell, Crook, Hot Springs, Natrona, Niobrara, Park and Washakie counties.
Intelligence Press Inc. All rights reserved. The preceding news report
may not be republished or redistributed, in whole or in part, in any
form, without prior written consent of Intelligence Press, Inc.