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.
SPONSORED CONTENT
Business Cares: May 2024
As Mental Health Awareness Month unfolds in Colorado, it serves as a reminder of the collective responsibility to prioritize mental well-being.
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…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!