Landowners use new strategy for selling oil rights LARAMIE, WY (wpr) - A group of people who own mineral rights in eastern Wyoming say they're planning to sell those rights to oil developers in a public auction.
Energy companies have been snapping up federal, state and private leases in eastern Wyoming amid speculation that new drilling techniques could open up the Niobrara Shale oil reserves.
Typically the companies negotiate individually with private mineral rights owners.
But one owner of mineral rights, Ben Massion, says holding an auction could help establish fair prices for oil rights.
So far, Massion and others want to offer the rights to drill on 14,000 acres. Massion says the auction approach isn't about greed but intended to facilitate business decisions.
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