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DENVER—The Bureau of Land Management has raised $478,845 in its latest quarterly auction of oil and gas leases in Colorado.
The auction Thursday was for three parcels involving 2,125 acres.
The BLM says Morrison, Colo.-based Bullock Corp. bid the highest per-acre price Thursday of $425 per acre for a 908-acre parcel in Moffat County that went for $385,900.
Oxy USA Inc. of Houston won the other two leases, also in Moffat County.
More planning, environmental analysis and public input would be needed before any drilling on the leases could start.
The U.S. government gets 51 percent of the proceeds from each sale, with the state of Colorado getting the rest.
The next BLM auction in Colorado is scheduled for November.
