The U.S. Department of the Interior’s Bureau of Land Management (BLM) said it approved the development of up to 4,250 oil and gas wells for the Moneta Divide Project in Wyoming.

The project stretches across more than 327,000 acres of mostly public lands. Aethon Energy Management and Burlington Resources Oil and Gas Company LP proposed the project and won the approval. They plan to drill up to 4,250 vertical, directional and horizontal wells from single and multi-well pads over a 15-year development period.

“I appreciate all the hard work and attention put into this project,” Duane Spencer, the BLM’s Wyoming acting state director, said in a statement.

The project could generate an estimated $182 million per year in federal royalties, $87.5 million per year in severance...