DENVER - Today, the Bureau of Land Management Colorado State Office sold three parcels totaling 2,125 acres for $478,845 including rentals and fees at its quarterly oil and gas lease sale. The highest per-acre price was for a 908-acre parcel in Moffat County that was sold to Bullock Corporation in Morrison for $425 per acre.
The State of Colorado receives 49 percent of the proceeds from each sale, with the remainder going to the U.S. government. The State of Colorado received more than $158 million in Fiscal Year 2012 from royalties, rentals and bonus bid payments for federal minerals, including oil and gas. BLM Colorado currently has approximately 4.2 million acres of public mineral estate leased for oil and natural gas development, generating more than $6.5 billion in direct economic benefits in 2012 and approximately $9.5 billion in total economic impacts.
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
Source: U.S. Department of the Interior, Bureau of Land Management
