CHEYENNE (WNE) — The Bureau of Land Management’s Wyoming State Office on Friday conducted a competitive oil and gas lease sale, offering 116 parcels covering 127,014.62 acres in Wyoming. In total, 67 parcels covering 69,149.39 acres sold for $14,776,920.
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 tinyurl.com/blm-lease-sale-063023.
As authorized under the Inflation Reduction Act, BLM will apply a 16.67% 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 a permit to drill detailing development plans.