The Wyoming Office of State Lands and Investments (OSLI), from November 1st through November 8th, held the third of three oil and gas lease auctions scheduled for this year. The auction was held on behalf of the Wyoming Board of Land Commissioners. The Wyoming State Constitution and the Wyoming State Legislature direct the Board of Land Commissioners to manage trust assets for two key purposes consistent with traditional trust principles: (1) long-term growth in value, and (2) optimum, sustainable revenue production.
OSLI offered 187 parcels of State Trust Land for lease covering 66,763.27 acres across 19 counties. The auction attracted 44 registered bidders from 10 different states, resulting in 66 of the 187 parcels receiving successful bids. A total of 24,511.78 acres were leased.
The auction grossed $2,493,457.40 in total revenue. The monies will benefit nine of the State’s trust beneficiaries, with the state’s common school fund (K-12 education) receiving the most revenue from the auction at $2,466,893.72.
The next auction will be held March 4-6, 2024. Nominations for this auction are due to OSLI by January 2, 2024.
Nominations for upcoming auctions can be submitted through our online Auction Nomination Form.
Oil and Gas Auction Contact
Dianna Wolvin - Oil and Gas, Bonding, Units, Auction - 307.777.6625 - email: firstname.lastname@example.org