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Posted inThe PitchUncategorized

Federal oil & gas lease sale nets $14M

Federal oil & gas lease sale nets $14M

— February 13, 2014

(Press release) — The Bureau of Land Management (BLM) generated more than $14 million for leasing rights on parcels offered at the BLM’s quarterly federal oil and gas lease auction held Tuesday 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 $5,400 per acre. Successful bidders also pay a $150 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, May 6, 2014, in Cheyenne.

February 11, 2014, competitive sale results summary:

Parcels Offered: 165
Parcels Sold: 165

Acres Offered: 152,035.120
Acres Sold: 152,035.120

Average Bid/Acre
For Parcels Offered: $90.94
For Acres Sold: $90.94

Average Bid/Parcel
For Parcels Offered: $83,790.61
For Parcels Sold: $83,790.61

Highest Bid/Acre: $5,400.00
Highest Bid/Parcel: $936,000.00

Total Bonus Bid: $13,825,450.00
Total Rental Due: $228,112.50
Total Administrative Fees Due: $25,575.00
Total Receipts Due: $14,079,137.50

Dustin Bleizeffer

Dustin Bleizeffer is a Report for America Corps member covering energy and climate at WyoFile. He has worked as a coal miner, an oilfield mechanic, and for 22 years as a statewide reporter and editor primarily...

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Posted inThe PitchUncategorized

Federal oil & gas lease sale nets $14M

Federal oil & gas lease sale nets $14M

— February 13, 2014

(Press release) — The Bureau of Land Management (BLM) generated more than $14 million for leasing rights on parcels offered at the BLM’s quarterly federal oil and gas lease auction held Tuesday 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 $5,400 per acre. Successful bidders also pay a $150 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, May 6, 2014, in Cheyenne.

February 11, 2014, competitive sale results summary:

Parcels Offered: 165
Parcels Sold: 165

Acres Offered: 152,035.120
Acres Sold: 152,035.120

Average Bid/Acre
For Parcels Offered: $90.94
For Acres Sold: $90.94

Average Bid/Parcel
For Parcels Offered: $83,790.61
For Parcels Sold: $83,790.61

Highest Bid/Acre: $5,400.00
Highest Bid/Parcel: $936,000.00

Total Bonus Bid: $13,825,450.00
Total Rental Due: $228,112.50
Total Administrative Fees Due: $25,575.00
Total Receipts Due: $14,079,137.50

Dustin Bleizeffer

Dustin Bleizeffer is a Report for America Corps member covering energy and climate at WyoFile. He has worked as a coal miner, an oilfield mechanic, and for 22 years as a statewide reporter and editor primarily...

Leave a comment

Want to join the discussion? Fantastic, here are the ground rules: * Provide your full name — no pseudonyms. WyoFile stands behind everything we publish and expects commenters to do the same. * No personal attacks, profanity, discriminatory language or threats. Keep it clean, civil and on topic. *WyoFile does not fact check every comment but, when noticed, submissions containing clear misinformation, demonstrably false statements of fact or links to sites trafficking in such will not be posted. *Individual commenters are limited to three comments per story, including replies.

Your email address will not be published. Required fields are marked *