In its latest quarterly oil and gas lease sale, the Bureau of Land Management (BLM) Wyoming State Office generated more than $7.7 million in total revenue, Bureau of Land Management reports.
The sale, conducted online through EnergyNet, involved leasing 29 parcels covering approximately 22,965 acres. The proceeds—amounting to $7,741,266—include both bonus bids and rental payments and will be shared between the federal government and the State of Wyoming.
These lease sales are part of ongoing federal efforts to support domestic energy production and promote American energy independence. According to the BLM, the initiative aligns with Executive Order 14154, “Unleashing American Energy,” which emphasizes bolstering the country’s energy capabilities to ensure economic stability and national security.
Leasing marks the first phase in the development of federal oil and gas resources. All lease activities are subject to environmental reviews in accordance with the National Environmental Policy Act of 1969 and other relevant laws. Successful bidders receive a lease for an initial term of 10 years, which may be extended as long as oil or gas is produced in commercially viable quantities.
The federal government collects a royalty of 16.67% on the value of production from these leases. Details about past and upcoming lease sales, including documentation and results, are available on the National Fluid Lease Sale System website.
