BLM Oil and Gas Sales Net Over $5.7 Million

Views
BLM Oil and Gas Sales Net Over $5.7 Million

BLM Oil and Gas Sales Net Over $5.7 Million

CHEYENNE — The Bureau of Land Management generated $5 million for leasing rights on parcels offered at the BLM’s quarterly federal oil and gas lease auction on May 3, in Cheyenne. Almost half of the bid and rental receipts go to the state of Wyoming.

The May Lease Sale included 30 parcels from the BLM’s High Desert District. The BLM also offered 80 parcels from the Wind River/Bighorn Basin and High Plains Districts originally scheduled for sale in February. The February Lease Sale was postponed due to a severe winter storm in Cheyenne on the original sale date.

Advertisement - Story continues below...

Bids ranged from the federally mandated minimum of $2 per acre to a high bid of $2,100 per acre. Successful bidders also pay a $160 per parcel one-time administrative fee and a yearly rental of $1.50 per acre for the first five years of the lease and $2 per acre in years six through 10.

Oil and Gas Lease Aution

May 3, 2016
BLM Wyoming Competitive Sale Results Summary

Parcels Offered 30
Parcels Sold 29
% Parcels Sold 96.67%
Acres Offered 27,070.52
Acres Sold 26,950.52
% Acres Sold 99.56%
Average Bid/Acre
For Acres Offered
For Acres Sold
$10.87
$10.92
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$9,809.80
$10,148.07
Highest Bid/Acre $33.00
Parcel with High Bid/Acre 13
Highest Bid/Parcel $53,816.00
Parcel with High Total Bid 12
Total Bonus Bid $294,294.00
Total Rental Due $40,438.50
Total Administrative Fees Due $4,640.00
Total Receipts Due $339,372.50

February 2, 2016
BLM Wyoming Competitive Sale Results Summary

Parcels Offered 80
Parcels Sold 66
 % Parcels Sold 82.5%
Acres Offered 78,912.760
Acres Sold 62,658.280
% Acres Sold 79.40%
Average Bid/Acre
For Acres Offered
For Acres Sold
$67.38
$84.86
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$
66,466.79
$80,565.80
Highest Bid/Acre $2,100.00
Parcel with High Bid/Acre 37
Highest Bid/Parcel $2,656,800.00
Parcel with High Total Bid 18
Total Bonus Bid $5,317,343.00
Total Rental Due $94,015.50
Total Administrative Fees Due $10,560.00
Total Receipts Due $5,421,918.50