CASPER, Wyo. — The Bureau of Land Management Wyoming announced on Wednesday, March 25 that they have leased 75 oil and gas parcels in their quarterly lease sale.
That generated over $3.4 million. BLM Wyoming say they received bids on the 75 parcels which total 71,689 acres of land.
“The BLM reviewed 125 parcels nominated for the sale and ultimately offered 105, totaling about 118,216 acres,” the release states. “We deleted or deferred 20 whole parcels and parts of 10 others because of resource conflicts.”
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“Leasing is the first step in the process to develop federal oil and gas resources, and it does not authorize drilling. At this stage, the BLM applies standard terms and conditions and appropriate stipulations to each lease to protect other resources in the area. Before authorizing development on a lease, the BLM must approve a separate drilling permit based on further analysis of detailed site-specific plans and conditions.”
The BLM say that amid the COVID-19 outbreak, they will continue to deliver essential services.
“As required by law, we are proceeding with our quarterly lease sales, which are now held online and have no associated public health risks,” they add. “BLM offices in Wyoming are currently closed to the public, and the majority of BLM staff is working from home or on alternative work schedules to maximize visitor and employee safety.”
“To learn more about the sale and associated review process, visit our ePlanning website at https://go.usa.gov/xda99. We will post a detailed results summary on the web within the coming week.”
BLM Wyoming say their oil and gas leases earned $117 million in 2018.
“About half of the revenue from Wyoming lease sales is disbursed to the State of Wyoming to fund state-determined priority projects,” the release states. “If a lease results in production, the associated royalties are also shared with the state.”
This article originally appeared on Oil City News. Used with permission.