CHEYENNE, Wyo. — The state of Wyoming’s first oil and gas lease auction of the year has netted $2.7 million.

The Wyoming Office of State Lands and Investments conducted the lease auction earlier this month on behalf of the Wyoming Board of Land Commissioners. It offered 210 parcels of State Trust Land for lease in 15 counties.

The auction attracted 96 bidders and resulted in 169 of the parcels receiving successful bids to lease about 68,600 acres (27,700 hectares).

Most of the money raised from the auction will go to a fund that benefits K-12 public schools in the state.

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