BLM Logo
U.S. DEPARTMENT OF THE INTERIOR
BUREAU OF LAND MANAGEMENT NEWS RELEASE
BLM Colorado
 
Release Date: 05/14/09
Contacts: Vanessa Delgado 303-239-3681    
  Denise Adamic 303-239-3671    

BLM May oil and gas lease sale nets $652,057


DENVER - Today, the BLM Colorado State Office sold 43 parcels of 51 offered at its quarterly oil and gas lease sale, totaling 42,986 acres. The highest per-acre price was for a 14.7-acre parcel in Dolores County that sold to Liberty Petroleum Corp. for $130 per acre. The high bonus bid of $56,300 was made by Hannon & Associates Inc. for a parcel of 562.47 acres in Huerfano County. Overall, the lease sale earned $652,057 in total proceeds, with 49 percent to go to the State of Colorado.

The State of Colorado received $261.5 million in Fiscal Year 2008 from royalties, rentals and bonus bid payments for all federal minerals (including coal).

A lease authorizes a company or individual to produce oil and gas from the public mineral estate, managed by the BLM. Additional planning, environmental analysis and public input must occur before drilling can begin.


-BLM-

 Click here to review the preliminary sale results



The BLM manages more than 245 million acres of public land, the most of any Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. The BLM's mission is to manage and conserve the public lands for the use and enjoyment of present and future generations under our mandate of multiple-use and sustained yield. In Fiscal Year 2013, the BLM generated $4.7 billion in receipts from public lands.
--BLM--

Last updated: 06-02-2009