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. As authorized under the Inflation Reduction Act, BLM will apply a 16.67% royalty rate for any new leases from this sale. Leasing is the first step in the process to develop federal oil and gas resources.
