Tract No. 11
TRMS1373

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, effective for the May auction. Some of these revision 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

Click here to view the updated lease form.

A) 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.

B) Burrowing Owl Stipulation- This tract potentially contains a burrowing owl nest site. Lessee must conduct a pre-construction survey to identify burrowing owl nest sites. If a burrowing owl nest site is identified, Lessee shall consult with the State Land Board Staff regarding their results prior to drilling operations.

C) 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.

Completions from the last 365 days in Weld County, Colorado

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Drilling Permits from the last 365 days in Weld County, Colorado

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Drilling Rigs on location in Weld County, Colorado

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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 rental, will be added to the cost of this lease.