Wyoming sold oil and natural gas leases in a quarterly auction Wednesday, generating $3.49 million in revenues involving 71,960 acres, the Office of State Lands and Investments said.
Revenues support public education and other beneficiaries of the state trust lands. Winning bids ranged widely, from $1 per acre to $3,870 per acre, but the vast majority were less than $10 per acre. Only 26 of the 205 parcels involved fetched per-acre prices above $10.
The parcels were located in 14 counties — Albany, Big Horn, Campbell, Carbon, Converse, Crook, Goshen, Hot Springs, Johnson, Lincoln, Natrona, Niobrara, Platte and Sweetwater.
Denver-based Pacer Energy Acquisitions LLC was the highest bidder, paying $3,870 ($2.47 million) for 640 acres in Converse County, along with picking up two 640-acre parcels in Niobrara County for $30 and $11 per acre, respectively.
An individual, Ann M. Trujillo, paid $810 per acre for 40 acres in Campbell County, and another Denver-based company, NorthStar Energy Co. LLC, paid $550 per acre for 640 acres in Johnson County. Other than a $240 per acre price paid for 640 acres in Converse, all of the other bids were under $100 per acre.
Complete lists of the parcels and results can be found at the State Lands website. The next oil/gas lease auction in Wyoming is set for March 12 in Cheyenne.
© 2020 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |