The Bureau of Land Management (BLM) Wyoming State Office recently completed its quarterly oil and gas lease sale, generating $6,725,713 in total receipts, BLM reports.
The sale included four parcels covering a total of 2,443.11 acres.
The revenue from the lease sale, which includes bonus bids and rental payments, will be distributed between the federal government and the State of Wyoming. The BLM’s lease sales contribute to domestic energy production and align with Executive Order 14154, Unleashing American Energy, which aims to support energy independence and national security.
Oil and gas leases awarded through BLM sales have a term of 10 years, with the potential for extension as long as production continues in paying quantities. The federal government receives a royalty of 16.67% of the production value.
Leasing is the initial step in oil and gas development, and the BLM ensures compliance with the National Environmental Policy Act of 1969 and other relevant regulations. These measures help balance energy development with environmental considerations.
The BLM manages more than 245 million acres of public land, primarily in 12 western states, as well as 700 million acres of subsurface mineral estate. The agency’s mission is to sustain the health, diversity, and productivity of these lands for future generations.
BLM lease sales are conducted online through EnergyNet, and detailed sale results are available through the National Fluid Lease Sale System. Those interested can access lease sale information by filtering for the latest sales and selecting “View Sale Documents” on the system’s website.
The latest news in your social feeds
Subscribe to our social media platforms to stay tuned