Getting your player ready...
DENVER—Nearly 190,000 acres of federal land in Colorado will be offered for oil and gas leasing in November.
The U.S. Bureau of Land Management said Friday that it will offer 177 parcels for lease in its quarterly auction. The auction will be November 8th in Denver.
Eighty-four of the parcels are on split estate, meaning that one party owns the surface and another—in this case the federal government—owns the minerals beneath the surface. Companies that lease the minerals have the right of reasonable use of the surface to extract the oil and gas.
Companies nominate BLM lands for leasing. Colorado is seeing record natural gas drilling rates.
