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CRAIG, Colo.—A mineral lease auction by Moffat County and the Museum of Northwest Colorado has brought in $1.3 million for the county’s various taxing districts.
Sealed bids were opened Tuesday. County Natural Resources Director Jeff Comstock says the sale resulted in average prices of $1,233 per acre for a three-year lease. Comstock tells the Craig Daily Press bids were driven by interest in the Niobrara shale formation.
In a November auction, the county leased nearly 14,000 acres for about $3.3 million, with bids reaching a high of $605 an acre.
A Colorado State Land Board auction in August drew a high bid of $4,000 per acre for an oil and gas lease in Weld County.
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Information from: Craig Daily Press,
