The Bureau of Land Management Wyoming State Office recently held a competitive oil and gas lease sale on September 6th. During the sale, a total of 81 parcels, covering an impressive 67,183.78 acres of land in Wyoming, were made available. Out of these, 53 parcels, spanning 35,701.21 acres, were successfully sold for an impressive amount of $13,207,883.
The press release reads:
CHEYENNE, Wyo. – The Bureau of Land Management Wyoming State Office conducted a competitive oil and gas lease sale Sept. 6th offering 81 parcels covering 67,183.78 acres in Wyoming. In total, 53 parcels covering 35,701.21 acres sold for $13,207,883.
The environmental assessment, maps, parcel lists, Notice of Competitive Lease Sale and proposed lease stipulations are available online at the BLM’s ePlanning website at: https://eplanning.blm.gov/eplanning-ui/project/2022737/510.
As authorized under the Inflation Reduction Act, BLM will apply a 16.67 percent royalty rate for any new leases from this sale. More information about the Act is available on BLM’s online fact sheet.
Leasing is the first step in the process to develop Federal oil and gas resources. Before development operations can begin, an operator must submit an application for permit to drill detailing development plans. The BLM reviews applications for permits to drill, posts them for public review, conducts an environmental analysis and coordinates with State partners and stakeholders.
All parcels leased as part of an oil and gas lease sale include appropriate stipulations to protect important natural resources. Information on current and upcoming BLM lease sales is available through the National Fluid Lease Sale System.