Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

Special lease auction approaches new Wyo. record
AP on Yahoo ^ | 7/12/10 | Mead Gruver - ap

Posted on 07/12/2010 5:04:11 PM PDT by NormsRevenge

CHEYENNE, Wyo. – An unprecedented special state oil and gas lease auction to handle a rush to drill for oil in eastern Wyoming has grossed a near-record $42 million.

The Office of State Lands and Investments held Friday's auction in response to demand from oil companies to snap up leasing rights. Figures released Monday showed bids for the right to drill on state land ranged as high as $3,200 an acre.

That's comparable to the high prices paid in May at a regular state lease auction that grossed a record $45.6 million for Wyoming.

Friday's special sale was Wyoming's second highest-grossing sale on record.

(Excerpt) Read more at ...

TOPICS: Business/Economy; US: Wyoming
KEYWORDS: auction; lease; niobara; wyoming

1 posted on 07/12/2010 5:04:12 PM PDT by NormsRevenge
[ Post Reply | Private Reply | View Replies]

To: NormsRevenge

Major wrong-way contrarian bet.

2 posted on 07/12/2010 6:10:02 PM PDT by elkfersupper (Member of the Original Defiant Class)
[ Post Reply | Private Reply | To 1 | View Replies]

To: elkfersupper

They’re betting that these clowns will eventually be tossed out.

3 posted on 07/12/2010 6:14:25 PM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
[ Post Reply | Private Reply | To 2 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson