Server Time (CDT): Mar. 28, 9:16:12a

Tract No. 9; TRMS2632

Weld County, CO
Colorado State Land Board Oil & Gas Lease Sale, May 20, 2021

SOLD

Property Schedule

Due Diligence Began 4/16/2021
Bidding Started 5/13/2021
Bidding Ended 5/20/2021 10:16 AM

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

Tract No. 9; TRMS2632

Gross Acres:

320.00

Net Acres:

320.00

Time Remaining:

Auction has ended

Start Time:

5/13/2021 9:16 AM MDT / 10:16 AM CDT

End Time:

5/20/2021 9:16 AM MDT / 10:16 AM CDT

Your Bid:

-

Highest Bid:

$32/acre

Starting Bid:

$0/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$11,360.80
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

Tract No. 9; TRMS2632

County, State

Weld, CO

Legal Description

T10N, R63W; Sec. 25 SWNE, NWNW, S2NW, NESW, NWSE, S2SE

Gross Acres

320.00

Net Acres

320.00

State Owns Surface

YES

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.

Seller Acquisition Agreement(s)

The Colorado State Land Board forms associated with Oil and Gas leasing may be found at https://slb.colorado.gov/lease/oil-gas/.

Lease Stipulations

1. OG STIP 1- JOINT 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). 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 and 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.

E. MOUNTAIN PLOVER POTENTIAL NEST SITES STIPULATION:

If initial surface disturbance is planned between April 1 - August 15, Lessee must conduct a pre-construction survey for Mountain Plover. Lessee shall consult with the State Land Board regarding their results prior to drilling operations.

F.1. PRONGHORN ANTELOPE WINTER CONCENTRATION AREA STIPULATION:

This lease falls within mapped Pronghorn Antelope Winter Concentration Area. There shall be No Surface Occupancy (NSO) between January 1 - April 30 to protect winter habitat. CPW recommends a surface facility density limit of one facility per square mile. Lessee shall consult with the State Land Board prior to APD or surface disturbance, whichever occurs first, to discuss best management practices and potential habitat mitigation requirements.

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 Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #524

5/20/2021 10:15:47 AM

$32

Bidder #351

5/19/2021 6:53:59 PM

$31

Bidder #524

5/19/2021 5:08:26 PM

$26

Bidder #351

5/14/2021 1:00 PM

$10