Oil and Gas Lease Proposal | SteamboatToday.com

Oil and Gas Lease Proposal



The Board of County Commissioners of Routt County is seeking proposals to lease oil, gas and other mineral interests owned by Routt County located in or under the land described as follows:

Township 4 North, Range 85 West of the 6th P.M.

Section 8: S2 of Lot 9 and S2 of Lot 10

Township 5 North, Range 87 West of the 6th P.M.

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Section 18: Lot 3, Lot 4, NW4SE4, E2SW4

Section 19: NW4NE4, NE4NW4, SE4NW4, SW4NE4, E2SW4, W2SE4

Section 22: E2E2

Section 27: NW4NE4

Section 28: NE4NE4

Section 29: E2NW4, W2E2, SE4SE4

Section 30: E2NW4, W2NE4, N2SE4

Section 32: NE4NE4

The minimum royalty acceptable is 17 percent. The minimum bonus consideration acceptable is $350 per net mineral acre. The maximum lease term allowable is five years unless production has commenced during the initial five years and is continuing. The primary criteria for award are the predicted current value of payments to Routt County. All parties making proposals are responsible for satisfying themselves of appropriate title status. Routt County will not warrant title to the interests leased.

The form of lease to be used and a proposal form are available from the Routt County Attorney’s Office, P.O. Box 773598, Steamboat Springs, CO 80477 – (970) 870-5304.

Written proposals should be submitted to the above address and must be received by 5:00 p.m. MST on July 25, 2011. All proposals should be placed in a sealed envelope marked on the outside as “Oil and Gas Lease Proposal.” The Board of County Commissioners will make a decision on whether to accept a proposal and award a lease as soon as possible after review of the proposals and staff recommendations. All proposals must include a check payable to the “Routt County Treasurer” in the amount of the bonus consideration due at the time of the signing of the lease as set forth in the proposal. Routt County reserves the right to determine, in its sole discretion, which proposal is most advantageous to Routt County and also reserves the right to reject any or all bids.

Published in the Steamboat Pilot & Today

Publication Date: July 10, 2011

Final Publication: July 17, 2011


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