CASPER, Wyo. — The Bureau of Land Management Wyoming’s December oil and gas parcel sale netted $10.8 million.
“The Bureau of Land Management Wyoming raised $10.8 million in its Dec. 10-11, 2019, quarterly oil and gas lease sale, facilitating economic opportunities and infrastructure investment in local communities,” BLM Wyoming said on Wednesday, Dec. 11. “The BLM received bids on 123 parcels totaling about 123,258 acres.”
“The BLM reviewed 169 parcels nominated for the sale and ultimately offered 160, totaling about 173,265 acres. We deleted or deferred nine whole parcels and parts of six others because of resource conflicts.”
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Before any drilling can occur, a separate permit must be issued. That permit is dependent on the BLM’s review of site-specific plans and conditions.
“Leasing is the first step in the process to develop federal oil and gas resources, and it does not authorize drilling,” the release states. “At this stage, the BLM applies standard terms and conditions and appropriate stipulations to each lease to protect other resources in the area.”
“To learn more about the sale and associated review process, visit our ePlanning website at https://go.usa.gov/xEdur. We will post a detailed results summary on the web within the coming week.”
BLM Wyoming says they netted $117 million in 2018 oil and gas parcel sales.
“About half of the revenue from Wyoming lease sales is disbursed to the State of Wyoming to fund state-determined priority projects,” the release adds. “If a lease results in production, the associated royalties are also shared with the state.”