BLM Colorado oil, gas lease sale raises $102,953

By: Associated Press Email
By: Associated Press Email

DENVER (AP) -- A Littleton-based company is the winning bidder for a single parcel that was offered in a quarterly auction of federal oil and gas leases in Colorado.

The Bureau of Land Management said Lone Tree Energy and Associates bid $110 per acre Thursday for the nearly 922-acre parcel in Mesa County. Including rentals and fees, the auction raised $102,953.

The parcel east of Grand Junction near the Grand Mesa National Forest was the only one put up for auction Thursday. The state of Colorado will receive 49 percent of the proceeds of the sale, and the federal government will receive the rest.

The BLM's next quarterly auction in Colorado is scheduled Nov. 8.

(COPYRIGHT 2011 BY THE ASSOCIATED PRESS. ALL RIGHTS RESERVED.)


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