Image courtesy of the Petroleum Association of Wyoming

The Bureau of Land Management collected $14 million Tuesday through the sale of new oil and gas leases in Wyoming.

The leases for the right to drill on federal land for all 165 parcels offered were bought at the auction, the Wyoming Star Tribune reported.

The total area of the leases was 152,035 acres.

The average bid per acre was $90.94 and the average bid per parcel was $83,790.

The highest bid per acre was $5,400.

The highest bid for a single parcel was $936,000.

Sales proceeds and the rent collected on the leases are split between the BLM and the state, the Star Tribune said.

The auctioned acreage was mainly in Big Horn, Campbell, Converse, Crook, Fremont, Natrona, Niobrara, Park, Washakie and Weston counties.

There were also parcels in Sioux County, Nebraska.


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