The Bureau of Land Management generated $2,006,229.50 for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Aug. 4, in Cheyenne. Almost half of the bid and rental receipts go to the State of Wyoming.

Bids ranged from the federally mandated minimum of $2 per acre to a high bid of $1,550.00 per acre. Successful bidders also pay a $155 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.

The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, Nov. 3, 2015, in Cheyenne.

May 5, 2015

BLM Wyoming Competitive Sale Results Summary

Parcels Offered 71

Parcels Sold 56

% Parcels Sold 78.87%

Acres Offered 69,709.520

Acres Sold 50,009.490

% Acres Sold 71.74%

Average Bid/Acre

For Acres Offered

For Acres Sold

$27.58

$38.44

Average Bid/Parcel 

For Parcels Offered - $27,077.55

For Parcels Sold - $34,330.46

Highest Bid/Acre $1,550.00

Parcel with High Bid/Acre 31

Highest Bid/Parcel $324,000.00

Parcel with High Total Bid 30

Total Bonus Bid $1,922,506.00

Total Rental Due $75,043.50

Total Administrative Fees Due $8,680.00

Total Receipts Due $2,006,229.50

One veteran of the oil and gas industry told K2 News though, "This is an average to below average total for this sale.  In the old days we had one sale every month with about 300 tracts of land; now we have one sale every three months with 150 tracts total."