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Release Date: 11/12/09
Contacts: Jim Sample 303-239-3861    

BLM oil and gas lease sale nets $112,969

DENVER - Today, the BLM Colorado State Office sold 11 parcels of 58 offered at its quarterly oil and gas lease sale, totaling 6,043 acres. The highest per-acre price was for a 81-acre parcel in Rio Blanco County that sold to Exxon Mobil Corp. for $215 per acre. The high bonus bid of $39,424 was made by Yates Petroleum Corp. for a parcel of 2,464 acres in Garfield County. Overall, the lease sale earned $112,969 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.

For complete sale results, click here.

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 sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations. In Fiscal Year 2015, the BLM generated $4.1 billion in receipts from activities occurring on public lands.

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Last updated: 11-13-2009