CHEYENNE, Wyo. (KCWY) -The Wyoming Office of State Lands and Investments held its second online oil and gas lease auction today and made $14,134, 833.
There was also some left over items as 170 of the 240 leases sold.
The auction was open for one week and attracted over sixty bidders.
Two hundred and forty parcels of State Trust Land were available for lease covering over 85,882 acres across thirteen counties.
“The State of Wyoming had another big win today,” said Bridget Hill, Director of the Office of State Lands and Investments.
“Today’s auction results are a great boost to the State’s coffers, especially the State’s education system. We hope this is an indicator that Wyoming has seen the bottom of this cycle in the oil and gas market.”
Funds received from this auction will be deposited for the benefit of nine of the State’s beneficiaries; the largest of which were the Common School Fund - $8,291,437.47, and the Farm Loan Fund - $3,905,920.