Agribusiness  February 19, 2009

BLM lease sale in Colorado nets $248,000

DENVER – The Bureau of Land Management’s Colorado state office reported selling 26 of 27 parcels in Colorado at its quarterly oil and gas lease sale, totaling 11,257 acres.

The highest per-acre price was for an 80-acre parcel in Weld County that sold to Synergy Petroleum Corp. for $250 per acre. The high bonus bid of $80,000 was made by Yates Petroleum Corp. for a parcel of 800 acres in Routt County.

Overall, the lease sale earned $248,058 with 49 percent of the proceeds going to the state of Colorado. The state received a total of $261.5 million in fiscal year 2008 from royalties, rentals and bonus bid payments for all federal minerals extracted, including coal.

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DENVER – The Bureau of Land Management’s Colorado state office reported selling 26 of 27 parcels in Colorado at its quarterly oil and gas lease sale, totaling 11,257 acres.

The highest per-acre price was for an 80-acre parcel in Weld County that sold to Synergy Petroleum Corp. for $250 per acre. The high bonus bid of $80,000 was made by Yates Petroleum Corp. for a parcel of 800 acres in Routt County.

Overall, the lease sale earned $248,058 with 49 percent of the proceeds going to the state of Colorado. The state received a total of $261.5 million in fiscal year 2008…

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