Tract No. 33
AUG010
SOLD
Property Schedule
AUG010
Sec. 17: S2SE
Tract Details
AUG010
Sec. 17: S2SE
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.
Revisions to the Oil and Gas Lease form were approved by the Board in April 2018. Some of these revisions include:
- Addition of Paragraph 4(d) "Land Board Policies, Directives and Schedules": Lessee's responsibility to be aware of and comply with all published Board Policies
- Addition of Paragraph 4(e)(vii) "Unmanned Aerial Systems (UAS)": Lessor's right to use UAS (otherwise known as drones) to inspect property
- Updated "Natural Gas Liquids", "Shut-in", and "Temporarily Abandoned" definitions
- Elimination of the six-months' royalty-free flaring provision
- Reduction of overriding royalty allowance to 3%
- Clarification regarding the requirement to obtain a Communitization Agreement to pool state trust minerals
- Revision of Shut-in Wells Paragraph: shut-in is permitted for lack of market only, limits shut-in period to two (2) years, requires payment of shut-in royalty within 90 days of shutting-in a lease, and clarifies plugging and abandonment of a well will end shut-in period
- Inclusion of a new "Temporarily Abandoned Wells and Mechanical Delays" paragraph permitting 60 days to repair a well with extensions to be granted by Staff
Lease Stipulations
OG STIP 3- SEVERED ESTATE WITH BIOLOGICAL ISSUES
Lease contains 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). 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.
Successful Bidder Notification
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.
Buyer Premium
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 Points of Contact
VP of Government Lease Sales
Gus Rivero
Email
Gus.Rivero@energynet.com
Office
(806) 463-3616
Manager of Government Lease Sales
Brandon Savage
Email
Brandon.Savage@energynet.com
Office
(806) 463-3621
Government Lease Sales Analyst
Heather Fugger
Email
Heather.Fugger@energynet.com
Office
(806) 463-3619
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #35
8/16/2018 11:03:59 AM
$22
Bidder #27
8/16/2018 10:33:20 AM
$21
Bidder #36
8/16/2018 11:03:55 AM
$1
Bidder #27
8/16/2018 10:33:20 AM
$0