Tract 12; TRMS2903
SOLD
Property Schedule
Sec. 21: SW
Tract Details
Sec. 21: SW
Lease Terms and Conditions
Purchase price includes the lease bonus and 1st year rental and buyer's premium. Buyer will be responsible for paying rental payments for years 2 through 5.
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There is no assurance that there is any potential for production on any tract offered for leasing by the State Board of Land Commissioners.
Click here to view the lease form.
Lease Royalty Rate Information Colorado State Land Board oil and gas leases will be initially offered at a 20% royalty rate. If a lease does not sell at auction, it will be available at the next subsequent auction at a 18.75% royalty rate. If a tract is unsold at the 18.75% rate, it will be placed back into the State Land Board inventory and can be nominated for future auctions starting at the 20% royalty rate. For questions about this process please contact Catie Stitt at 303-866-3454 ext. 3326.
Lease Stipulations
- 4. OG STIP 4- SEVERED ESTATE WITH NO KNOWN BIOLOGICAL ISSUES: As of the effective date of the Lease, there are no known Colorado Parks & Wildlife (CPW) mapped High Priority Habitat (HPH) and/or occurrences of Federally-listed Endangered, Threatened, or Candidate wildlife or plant species as mapped by Colorado Natural Heritage Program (CNHP), on the leased land. Lessee must notify Lessor’s District Manager prior to surface access and occupancy and in connection with any proposed oil and gas operations, including, without limitation, the submittal of a Location Assessment or an Application for Permit to Drill (APD). Lessee is encouraged to notify CPW and CNHP in connection with the required surface owner notice.
- B.1 HISTORICAL, PREHISTORICAL AND ARCHAEOLOGICAL RESOURCES (FEB, MAY 2023) This Stipulation shall replace in its entirety Paragraph 40(j) of the Lease. Under no circumstances may any person injure, destroy, disturb, mar, appropriate, collect, remove, alter, or excavate any historical, prehistorical or archaeological site or resource (collectively, “cultural resources”) on state lands. Discovery or indication of cultural resources shall be immediately brought to the attention of the Lessor and the State Archaeologist. Lessee shall comply with the requirements of C.R.S. § 24-80-401 through 411, as the same may be amended from time to time. Prior to any surface disturbance or before submitting an Application for a Permit to Drill (“APD'') or a spacing application, Lessee shall arrange for a Class III archaeological survey of all sites subject to surface development. The surveyor shall provide the completed survey, including site management recommendations, to Lessor and the Office of Archaeology and Historical Preservation (“OAHP”). If the Class III survey or OAHP identifies any cultural resources on the Leased Lands, Lessor shall consult with OAHP and determine whether any specific site management activities will be required. Lessor, in its sole and absolute discretion, may impose additional requirements, conditions, restrictions, or stipulations under this Lease to protect or preserve cultural resources. Lessee acknowledges that Lessor is under no obligation to refund any bonus payment, rental or fee paid under this Lease.
Seller Acquisition Agreement(s)
The Colorado State Land Board forms associated with Oil and Gas leasing may be found at https://slb.colorado.gov/lease/oil-gas/.
Notice(s)
Any Colorado State Land Board lease obtained at the May 2023 Lease Auction will be issued electronically via DocuSign for signature. If you have any questions on this process, please contact Sherry Lee at 303-866-3454 x 3322 or sherry.lee@state.co.us.
Successful Bidder Notification and Buyer Premium
After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment must be made within two business days.
A 2% Buyer Premium, calculated as 2% of the total bonus plus rental, will be added to the cost of this lease.
Colorado State Land Board Points of Contact
Minerals Director
Christel Koranda
Email
Christel.Koranda@state.co.us
Office
(303) 866-3454 ext 3321
Oil and Gas Specialist
Catie Stitt
Email
Catie.Stitt@state.co.us
Office
(303) 866-3454 ext 3326
EnergyNet Point of Contact
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #800
5/16/2023 6:11:51 PM
$0