NGI Archives | NGI All News Access
BLM to Offer 184 Wyoming Parcels for Oil, Gas Lease
The Wyoming office of the federal Bureau of Land Management (BLM) on Tuesday will offer a total of 162,476 acres in 184 state parcels for lease in an oral oil and natural gas auction.
Auction rules call for a $2/acre minimum bid in bonuses on any parcel, which requires a buyer to pay the bid price for the right to obtain the federal lease in addition to a standard $1.50/acre rental on the lease. BLM also will charge winning bidders $140/parcel to help cover administrative costs.
“Mineral resources on Wyoming public lands play a key role in meeting energy demands in the Rocky Mountain region,” said Wyoming BLM Director Bob Bennett.
Oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 28.5 bbl/d of oil and 1.3 MMcf/d of gas in 2006. About 64% of Wyoming’s homes also are heated with natural gas. If the lease becomes producing, the federal government will collect a royalty on production. Leases are for a primary term of 10 years and will be continued as long as oil or gas is producing in paying quantities. Last year, total mineral royalties of $1.7 billion were collected and shared equally with the state.
The auction is scheduled to begin at 8 a.m. MDT at the Holiday Inn in Cheyenne, WY. A complete list of parcels is available on the Wyoming BLM website at www.blm.gov/wy/st/en/programs/energy/Oil_and_Gas/Leasing.html. Interactive maps showing the location of the upcoming lease sale parcels in Wyoming may be found at www.geocommunicator.gov.
Â©Copyright 2007Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.
© 2023 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |