WASHINGTON (dpa-AFX) - The Trust for Public Land announced that it has entered into an agreement with Plains Exploration & Production Co.(PXP) to purchase oil and gas leases on 58,000 acres of environmentally sensitive land located in the Hoback Basin of the Wyoming Range. Once the transaction is completed, the leases will be retired, protecting the land from oil and natural gas drilling.
The Trust for Public Land is currently working to raise the $8.75 million 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.
The Hoback Basin is beloved by local residents for its rich hunting and fishing grounds and astounding natural beauty. Part of the Greater Yellowstone area, the land affected by the oil and gas leases includes the headwaters of the Hoback River, a Congressionally designated wild and scenic river that was named America's 5th most endangered river in 2012 by American Rivers, the nation's leading river conservation organization. The Hoback Basin is also a crucial pathway for migrating animals including mule deer, pronghorn antelope and elk.
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