Converse County Dominates High Bidding at Wyoming BLM Sale
Converse County dominated the high bidding at the Bureau of Land Management’s Wyoming oil and gas lease sale on March 1, which pulled in $87.9 million in bonuses for leases on 437 tracts totaling 527,000 acres.
The highest bid was $6,001/acre for 40 acres in Sec. 9, T40N-R75W, and came from Titan Exploration LLC of New York City.
Titan also posted the second and third highest bids in Converse County, paying $3,503/acre for 315 acres in sections 5 and 7, T38N-R74W, and $3,304/acre for 603 acres in sections 4 and 9, T38N-R74W.
Johnson County also drew several high bids, all coming from Cassidy American Resources LLC of Houston.
The company paid 2,029/acre for 2,396 acres in sections 24, 25, 26, and 27, T44N-R78W, and $2,129/acre for 1,437 acres in sections 28, 29, 30, 31, and 32, T44N-R78W.
Cassidy was high bidder at $2,019/acre for 1,955 acres in sections 21, 22, and 23, T44N-R78W.
Hindsight Oil and Gas LLC of Casper, WY posted a high bid of $1,922/acre for 1,167 acres in sections 5, 6, and 7, T44N-R78W.
More results on this sale will be posted in the March 28 edition of Oil Patch Hotline.