Date: June 6, 2006
Contact: Steven Hall
307-775-6015 BLM Oil and Gas Lease Sale Nets $4.4 Million,
State of Wyoming to Get HalfThe Bureau of Land Management generated nearly $4.4 million for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne on June 6, 2006. Half of the bid and rental receipts go to the State of Wyoming. "Energy development drives the Wyoming economy and our state provides critical energy resources for the entire nation," said Wyoming BLM State Director Bob Bennett. Oil and gas leases on 13 parcels located in the Bridger Teton National Forest sold for a total of $ 1,306,218 . Oil and gas leases on two parcels in the Shoshone National Forest area sold for a total of $146,596. The U.S. Forest Service decides which Forest Service parcels will be sold at BLM lease sales. Bids totaling $4,269,773 million ranged from the federally mandated minimum of $2 per acre to $1,025 per acre. Successful bidders also pay a $130 per parcel administrative fee and yearly rental of $1.50 per acre. A total of 76,448 acres in 117 parcels were leased. Parcels which didn't receive bids at the auction are available noncompetitively for the yearly rental fee ($1.50 per acre for the first five years and $2 per acre for the second five years) and a $335 administrative fee at the BLM office in Cheyenne. The next oil and gas lease sale will be held on August 1, 2006 in Cheyenne. Oil and gas operations on BLM-administered public lands and federal mineral estate in Wyoming produced 29,819,011 barrels of oil and 1,410,476,831 thousand cubic feet of gas, and generated $799,217,792 in federal oil and gas royalties last year. Half the royalty payments were disbursed to the State of Wyoming. June 2006
Wyoming Competitive Sale Results Summary |
|---|
| Parcels Offered | 128 | | Parcels Sold | 117 | | % Parcels Sold | 91.41% | | Acres Offered | 83,905.390 | | Acres Sold | 76,448.800 | | % Acres Sold | 91.11% | Average Bid/Acre
For Acres Offered
For Acres Sold
|
$50.89
$55.85 | Average Bid/Parcel
For Parcels Offered
For Parcels Sold |
$33,357.60
$36,493.79 | | Highest Bid/Acre: | $420.00
| | Parcel with High | 49 | | Highest Bid/Parcel: | $434,010.00
| | Parcel with High Total Bid | 111 | | Total Bonus Bid | $4,269,773.00 | | Total Rental Due | $114,708.00 | | Total Administrative Fees Due | $15,210.00 | | Total Receipts Due | $4,399,691.00 | | Highest Bid/Acre | Parcel 49 | Brown, Maurice W.
614 S. Greeley HWY
Cheyenne, WY 82007-1855 | | Highest Bid/Parcel | Parcel 111 | Plains Exploration & Prod.
1021 Main, Suite 2100
Houston, TX 77002 |
-BLM- |
