BLM oil and gas lease sale nets $413,440
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DENVER – Today, the Bureau of Land Management Colorado State Office sold six parcels totaling 6,704.98 acres for $413,440.50 including rentals and fees at its quarterly oil and gas lease sale. The highest per-acre price was for an 838-acre parcel in Moffat County sold to Yates Petroleum Corp from Artesia, New Mexico, for $100 per acre.
The State of Colorado receives 49 percent of the proceeds of each lease sale. In Fiscal Year 2013, Colorado received more than $130 million from royalties, rentals and bonus bid payments for all federal minerals, including oil and gas. Statewide, there are more than 22,900 jobs tied to mineral and energy development on public lands.
A lease is the first step before eventually applying to develop and produce oil and gas from the BLM-managed public mineral estate. Additional planning, environmental analysis and public input must occur before drilling can begin.
For information about BLM Colorado’s oil and gas lease sales, visit:www.blm.gov/co/st/en/BLM_Programs/oilandgas/oil_and_gas_lease.html
The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.