Governor Matt Mead was in Jackson today to help announce that Plains Exploration & Production Company has entered into an agreement with the Trust for Public Land to sell its oil and gas leases on 58,000 acres of land located in the Hoback Basin of the Wyoming Range. The PXP leases are located approximately 30 miles south of Jackson.
“This is an outstanding outcome for the people of Wyoming—a true ‘win-win’ resolution. It respects both the wishes of local residents and the legal rights of leaseholders,” said Governor Mead in a statement released just before 2 p.m. Friday, Oct. 5.
The Trust for Public Land is currently working to raise the additional funds needed to complete the transaction by December 31. To date, the organization has received donations and pledges of $4.5 million from a combination of individual and philanthropic sources. The Trust for Public Land must raise an additional $4.25 million by December 31.