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BLM Wyoming Lease Sale Nets Nearly $1M

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.

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