By Associated Press - Monday, March 20, 2017

CHEYENNE, Wyo. (AP) - An online auction of rights to drill on Wyoming state lands has brought in almost $30 million, the most since oil and gas were booming six years ago.

The auction took place over a week. The revenue will help Wyoming during a downturn in the oil and gas market that has depressed state revenue.

Beneficiaries include the state’s common school fund, which gets over $26 million.

State officials say 70 bidders sought the right to drill on almost 86,000 acres in 11 counties. The bidders nominated the leases offered and all 197 leases sold.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2021 The Washington Times, LLC.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide