(Wyo)-Wyoming Oil And Gas Leases Up 800% This Year At $146-M
CHEYENNE, Wyo. (AP) - Wyoming's revenue from the leasing of more than a half-million acres of state and federal land to oil and gas companies grew by more than 800% this year, netting about $146 million dollars compared to around $16-million last year when oil and gas activity was still in a downturn.
Leases on state lands alone brought in $60 million this year - much higher than the typical $5-to-$7 million of past years. State officials say the Wyoming's decision to switch to an online auctioning system may have played a role in increasing revenue.
In a related story, the Trump administration Friday rescinded proposed rules from the Obama administration covering fracking - hydraulic fracturing - and other oil- and gas-drilling practices on government lands.
The rules, which required companies to disclose the chemicals they were using in fracking, were to take effect in 2015, but a judge in Wyoming sided with petroleum industry groups and blocked them at the last minute.
The issue languished in the court until September when the 10th U.S. Circuit Court of Appeals in Denver declined to rule in that case because the Trump administration had already said it intended to rescind the rules.
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