Oil and Gas Lease Sale Nets $11.8M | Big Horn Basin Media

Oil and Gas Lease Sale Nets $11.8M

Written by on March 22, 2019

A Bureau of Land Management oil and gas lease sale in Wyoming has netted $11.8 million.

The agency says its online sale Tuesday and Wednesday attracted bids on 114 parcels totaling about 96,000 acres. Nearly half of the revenue from the quarterly lease sale will be shared with the state of Wyoming. If leases result in producing oil or gas wells, royalties from production are also shared with the state.

The BLM reviewed 146 nominated parcels for this sale and deferred six whole parcels and parts of two others because they intersect with state-designated big game migration corridors.

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