Wyoming oil lease land up for review

wyoming oil lease

The Bureau of Land Management of Wyoming released an environmental report on over 200 oil and gas parcels for possible oil leases.

The land totals more than 250,000 acres.  A proposed lease sale could be held in June 2023. The release of this report triggered a 30-day public comment period, which will end January 23, 2023.

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Public input needed for Wyoming oil lease proposal

BLM will use public input to review of each parcel and decide if leasing is the right thing to do. All the parcels have some protections and stipulations, like seasonal timing and surface uses to protect sage-grouse.

The parcels as well as maps and instructions on how to comment, are available at https://eplanning.blm.gov/eplanning-ui/project/2021772/510.

If approved, this BLM lease sale would include updated provisions authorized by Congress in the Inflation Reduction Act:

  • Minimum bids for all offered parcels will be $10 per acre, an increase from the $2 per acre minimum bid set in 1987;
  • Royalty rates will be 16.67 percent, up from the previous minimum of 12.5 percent; and
  • Rental rates will be $3 per acre for the first two years, $5 per acre for years three through eight, and $15 per acre in years nine and ten. Prior to the Inflation Reduction Act, rental rates were $1.50 per acre for the first five years and $2 per acre for each year thereafter, rates originally set in 1987.

Further information about the Inflation Reduction Act in the BLM’s is at the online fact sheet.