BLM oil and gas lease sale nets $295,688
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Today, the Bureau of Land Management Colorado State Office sold seven parcels totaling 4,676 acres for $295,688 including rentals and fees at its quarterly oil and gas lease sale. The highest per-acre price was for an 884-acre parcel in Rio Blanco County sold to Ursa Operating Company, LLC in Denver for $280 per acre.The State of Colorado receives 49 percent of the proceeds of each lease sale. In Fiscal_Year 2013, Colorado received more than $175 million from royalties, rentals and bonus bid payments for all federal minerals, including oil and gas. Statewide, more than 22,900 jobs are 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.