All summer the state of Wyoming has been holding oil and gas lease auctions. The results have been interesting and validate the overwhelming interest in the Niobrara oil play. The most recent was held November 3rd. Almost $49MM were bid on 73,000 acres all over the state. I have posted some of the data below.
Here it is broken out by Company and County.
The top counties by average bid have consistently included Goshen, Platte and Converse all summer.
Here is a summary table breaking out the acreage by county for each company. I highlighted the companies that spent the most money. Baseline Minerals and T.S.Dudley Land Company both spent over $13MM.
These results have high value considering it is one of the only public sources of price per acre. As always we keep the results for the lease auctions in the Regulatory Folder in the Niobrara Uncoventional Update.