GREELEY, Colo.—Greeley-based Mineral Resources is looking to expand its drilling operations within city limits.
The Greeley Tribune reports ( ) the company recently offered a $300-per-acre sign-on bonus and a 14 percent royalty for a certain period to residents who agree to lease their mineral rights.
Residents who disagree might still have their mineral rights developed under a Colorado law that allows for smaller rights owners to be pooled with larger ones who agree to develop. Those owners would still be entitled to 12.5 percent royalties.
Mineral Resources owner Arlo Richardson says the oil and gas production would take place thousands of feet below city water pipes. Richardson says Mineral Resources has reached around 6,000 lease agreements around Greeley.
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Information from: Greeley Daily Tribune,
