Property Information

Tract 10; TRMS2954

Weld County, CO

Colorado State Land Board Oil, Gas, and Helium Lease Sale, August 17, 2023

SOLD

Property Schedule

Due Diligence Began 7/20/2023

Bidding Started 8/10/2023

Bidding Ended 8/17/2023 10:18 AM

Registration Status

Please log in as a buyer to view registration status.

Your Bid Status

You have not bid on this lot

Tract

Tract 10; TRMS2954

Gross Acres

160.00

Net Acres

160.00

Time Remaining

Auction has ended

Start Time

8/10/2023 9:18 AM MDT / 10:18 AM CDT

End Time

8/17/2023 9:18 AM MDT / 10:18 AM CDT

Your Bid

Highest Bid

$56/acre

Starting Bid

$0/acre

Bid Increment

Total Cost at Highest Bid

$9,647.20

(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description

T3N, R62W
Sec. 23: SW

Tract Details

Tract No.

Tract 10; TRMS2954

County, State

Weld, CO

Legal Description

T3N, R62W
Sec. 23: SW

Gross Acres

160.00

Net Acres

160.00

State Owns Surface

Royalty Rate

20.00%

Rental/Acre (Per Year)

$2.50

CO Application Fee

$100.00

Buyer Premium

2.00%

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.

Data represented on these maps is for REFERENCE USE ONLY and is not suitable for legal, engineering, or surveying purposes. Neither Colorado nor EnergyNet.com shall be liable for any direct, indirect or consequential damages to any party arising out of or in connection with the use of data on these maps.

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

3. OG STIP 3- SEVERED ESTATE WITH KNOWN BIOLOGICAL ISSUES: Lease contains Colorado Parks and 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). Lessee must notify Lessor’s District Manager prior to surface access and proposed surface 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, AUG 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.
F.3. PRONGHORN ANTELOPE WINTER CONCENTRATION AREA STIPULATION: This lease falls within mapped Pronghorn Antelope Winter Concentration Area. CPW recommends No Surface Occupancy (NSO) between January 1 - April 30 to protect winter habitat and a surface facility density limit of one facility per square mile. Lessee shall consult with the State Land Board prior to APD to determine best management practices to address Pronghorn Antelope concerns.
G.3. MULE DEER SEVERE WINTER RANGE STIPULATION: This lease falls within mapped Mule Deer Severe Winter Range. CPW recommends No Surface Occupancy (NSO) between December 1 - April 30 to protect winter habitat area. CPW recommends a surface density limitation of 1 pad and less than one linear mile of routes per square mile (640 acres). Lessee shall consult with the State Land Board prior to APD to determine best management practices to address Mule Deer concerns.

Notice(s)

Any Colorado State Land Board lease obtained at the August 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.