Nick Snow
Washington Correspondent
WASHINGTON, DC, June 7 -- The US Bureau of Land Management's Wyoming office received $4.3 million in bids for leasing rights and rental fees at its latest bimonthly oil and gas lease auction in Cheyenne on June 6. Half of that amount will go to the state.
Receipts were 35% lower than a year earlier, when a similar sale generated $6,586,982 for nearly 162,340 acres in 173 parcels.
A total of 76,448 acres in 117 parcels attracted bids in the latest sale. The $4,269,773 in bids ranged from the federally mandated $2/acre minimum to $1,025/acre. Successful bidders also pay a $130/parcel administrative fee and yearly rental of $1.50/acre.
Leases for 14 parcels in the Bridger Teton National Forest sold for $1,343,108, while leases on two Shoshone National Forest area leases sold for $146,596. The US Forest Service decides which of its parcels will be offered.
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