There have been some interesting results from the recent Wyoming State Oil and Gas Lease Auctions. We keep the results in the Regulatory Folder of the Niobrara Unconventional Updates within DNA (available to all DI users of course). Here are couple of charts from the results.
First, here is some data from the July auction. This was a “special auction” in response to the record setting May auction that brought in about $45MM. Big Bear Oil & Gas spent alot of money at these auctions picking up land for an undisclosed company. They spent $20MM at this auction alone.
Here is a chart from the August auction showing the data by county. Interestingly, the high bids were farther north in Campbell and Converse counties whereas in the earlier auctions, Laramie and Goshen had the high bids.
The next auction is slated for November 3rd. In total, the May, July and August auctions brought in about $90MM.