CHEYENNE -- The Bureau of Land Management generated $2,412,553.50 for leasing rights and rental fees on parcels offered at the BLM's bimonthly federal oil and gas lease auction held in Cheyenne yesterday (Tuesday). Almost half of the bid and rental receipts go to the state of Wyoming.

"Energy development is an important component of the Wyoming economy and provides critical energy resources for the entire nation," said BLM Wyoming State Director Don Simpson.

Bids totaling $2,326,382 ranged from the federally mandated minimum of $2 per acre to a high bid of $370 per acre. Successful bidders also pay a $145 per parcel one-time administrative fee and yearly rental of $1.50 per acre for the first five years of the lease and $2 per acre in years six through 10.

A total of 52,993.28 acres in 46 parcels were sold.

Parcels that didn't receive bids at the auction are available noncompetitively for the yearly rental fee ($1.50 per acre for the first five years and $2 per acre for the second five years) and a $375 administrative fee at the BLM office in Cheyenne.

The next oil and gas lease sale will be held on Tuesday, May 11, 2010, in Cheyenne.

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