Server Time (CDT): Mar. 28, 2:53:10p

Tract No. 72

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 11:22 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 No. 72

Gross Acres:

640.00

Net Acres:

640.00

Time Remaining:

Auction has ended

Start Time:

11/10/2016 10:22 AM MST / 11:22 AM CST

End Time:

11/17/2016 10:22 AM MST / 11:22 AM CST

Your Bid:

-

Highest Bid:

$0/acre

Starting Bid:

$0/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$1,732
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

Tract No. 72

County, State

Elbert, CO

Legal Description

T8S, R58W, 6th PM
Sec. 22: ALL

Gross Acres

640.00

Net Acres

640.00

State Owns Surface

Yes

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

JOINT ESTATE WITH BIOLOGICAL ISSUES with SWIFT FOX SURVEY STIPULATION

A) OG STIP 1- 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). Prior to surface access for operations and in connection with any Location Assessment for oil and gas operations, or the submittal of an Application for Permit to Drill (APD) with the Colorado Oil and Gas Conservation Commission (OGCC), Lessee shall consult with and obtain approval of the Lessor’s District Manager, or his designee, for operations, including without limitation, exploration activities, well siting and access, and facilities locations. In connection therewith, Lessee shall consult with CPW and CNHP representatives regarding appropriate design measures and best management practices (BMPs) to avoid and minimize adverse impacts to biological resources, species, and habitats. Lessor’s conservation mandate may require Lessee’s compliance with site specific measures to address CPW and CNHP concerns relating to the siting of facilities and the implementation of BMPs to avoid, minimize, and mitigate adverse impacts. Site specific requirements may include, but are not limited to:
1) restricted or prohibited surface occupancy
2) noise limitations or mitigation measures
3) seasonal operations restrictions
4) biological resource mapping
5) ground or surface water testing
6) air quality testing
7) adoption of a comprehensive soil management plan.
Lessor does not waive any OGCC consultation requirements with the surface owner, and Lessee shall not seek a variance to any required consultation without the advance written approval of the Lessor. Without excluding other penalties or remedies available under this Lease or as provided by law, Lessor shall impose penalties, subject to the applicable Lease notice and cure rights, including Lease cancellation and fines of up to $10,000 per day, for any violation of this special stipulation or the resulting BMPs, in whole or in part, arising directly or indirectly from the use, occupation or control of the Leased Premises by Lessee, Lessee’s contractor or operator under this Lease. If Lessor determines any oil and gas operations pose a risk of immediate damage to public health, safety or welfare Lessor may order the immediate suspension of operations to investigate and remedy the issues.
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 11:22:21 AM

$0