Million Raised in Oil Leases | Big Horn Basin Media

State Brings in $30 Million in Oil Lease Dollars

Written by on March 21, 2017

The state of Wyoming’s dark economic situation got a boost this week.

The Wyoming Office of State Lands and Investments held the first nominated online oil and gas lease auction on March 8.  The auction of 197 parcels of state trust land was open for one week and attracted over seventy bidders.

The auction resulted in all leases sold, grossing almost $30 million dollars – the most received since the boom in 2011.

Funds received from this auction will be deposited for the benefit of three of the State’s beneficiaries – the Common School Fund will receive over $26 million dollars; $1.8 million will go to the Public Buildings at the Capitol; and the Farm Loan Fund will receive almost $1.5 million dollars.

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