Oil and gas lease sale nets $4.8 million

DENVER – The Bureau of Land Management received $4.8 million from oil and natural-gas lease sales of 30 parcels totaling more than 28,300 acres in Colorado.

The bureau said that the state will receive 49 percent of the proceeds from the quarterly sale, with the rest going to the federal government. The sale took place Thursday.

Colorado received more than $154 million in fiscal 2011 from royalties, rentals and bonus bid payments for all federal minerals, including oil and gas.

The bureau has leased about 4.4 million acres for oil and gas development statewide. Sales generated more than $2.9 billion in direct economic benefits in 2010 and about $4.9 billion in total economic activity.


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