Server Time (CDT): Mar. 28, 4:11:49p

Tract No. 70

Elbert County, CO
Colorado State Land Board Lease Auction

SOLD

Property Schedule

Due Diligence Began 11/10/2016
Bidding Started 11/10/2016
Bidding Ended 11/17/2016 11:18 AM

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

Tract No. 70

Gross Acres:

320.00

Net Acres:

320.00

Time Remaining:

Auction has ended

Start Time:

11/10/2016 10:18 AM MST / 11:18 AM CST

End Time:

11/17/2016 10:18 AM MST / 11:18 AM CST

Your Bid:

-

Highest Bid:

$0/acre

Starting Bid:

$0/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$916
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

Tract No. 70

County, State

Elbert, CO

Legal Description

T8S, R59W, 6th PM
Sec. 24: S2

Gross Acres

320.00

Net Acres

320.00

State Owns Surface

No

Royalty Rate

1/5

Rental/Acre (Per Year)

$2.50

CO Application Fee

$100.00

Buyer Premium

2.00%

Additional Information

Colorado Oil and Gas Lease Changes
The Colorado State Land Board has approved revisions to the standard oil and gas lease form for the first time since 2011. The new lease terms will go into effect for all oil and gas leases issued on or after May 19, 2016. Significant revisions made to the lease provisions are summarized in the 2016 Oil and Gas Lease Changes.

UPDATE: The State of Colorado will no longer round up the Rental Fee. All Rentals will be paid on the actual acreage of the lease.

The new lease form is available by clicking the Colorado Lease Form.
Terms
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.
Notice: A 2% Buyer Premium, calculated as 2% of the total rental, will be added to the cost of this lease.
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.
Completions from the last 365 days in Elbert County, Colorado
source: www.drillinginfo.com
Lease Stipulation

SEVERED ESTATE WITH BIOLOGICAL ISSUES with SWIFT FOX SURVEY STIPULATION

A) OG STIP 3- 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) Swift Fox Stipulation- Prior to drilling operations, Lessee must conduct a Swift Fox survey for active den sites. Lessee shall consult with the State Land Board regarding their results prior to drilling operations.
GIS Data
GIS data in the form a shapefile is available for this lease sale. Click here to download.
Please be advised that the information contained herein 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 contained herein.
Contact Information
Colorado
Christel Koranda
Oil and Gas Leasing Manager
(303) 866-3454 ext 3321

 
 
 
 

 
 
 
 
EnergyNet
John S. Munroe
VP of Engineering / Government Lease Sales
(832) 403-3122

Gus Rivero
Manager of Government Lease Sales
(806) 463-3616

Brandon Savage
Asst Manager of Government Lease Sales
(806) 463-3621

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #3

11/10/2016 11:21:35 AM

$0