Wyo. Stat. § 36-5-111
Any applicant applying to lease state lands upon which there are fences, buildings, reservoirs, ditches, dams, wells, or other improvements of any kind, belonging to or made by another, or for which water rights or proportionate interests in irrigation reservoirs, canals, or systems, have been acquired, shall before receiving the lease, pay to the director for the use and benefit of the owner or maker of any improvements at the time of the execution of the lease, the current market value of the improvements unless a different value is agreed to between the owner of the improvements and the applicant thereof as finally determined by the board in accordance with its rules and regulations. Alternatively, the owner of the improvements shall, upon giving notice to the director in writing within the time fixed by board rule and regulation, have the right to remove those improvements in a manner which minimizes injury to the land; provided, that the improvements be removed within a period of one hundred twenty (120) days from the date of the expiration of the lease. For purposes of this section, "current market value" means the replacement value of the lessee's improvement at the time of transition of the lease, after the remaining useful life of the improvement is considered.
W.S. 36-5-111