State energy leases brought in $145M to Colorado

By: Associated Press Email
By: Associated Press Email

GREELEY, Colo. (AP) -- Energy leases brought in record revenue to Colorado in the past fiscal year, boosted by big sales in Weld and Arapahoe counties.

The Colorado State Land Board manages land set aside at statehood to support schools, including state land leased for oil and gas drilling.

The Greeley Tribune reported Saturday that the board collected $146 million for energy leases for the fiscal year which ended in June. About $100 million came from bonus payments paid upfront by companies to be able to drill on government land. The rest came from royalties paid on oil and gas produced from those leased lands.

Director Bill Ryan said revenues are expected to decline in the current fiscal year because companies have now acquired all the prime land they were interested in.

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