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BLM Leases More Land for Oil and Gas Development

by KREX News Room
by Cori Coffin

Story Created: Nov 10, 2012 at 10:27 PM MDT

Story Updated: Nov 11, 2012 at 9:37 AM MDT

DENVER- The Bureau of Land Management's Colorado state office sold 32 parcels of land at its quarterly oil and gas lease sale.

The sale totals 17,026 acres for just under $265,000, including rentals and fees.

The highest per-acre price was for a 369-acre parcel in Morgan County that was sold to Vecta Oil and Gas Ltd. in Lakewood for $180 per acre.

BLM Colorado currently has about 4.4 million acres of public mineral estate leased for oil and natural gas development, generating more than $6.5 billion in direct economic benefits in 2011 and about $9.5 billion in total economic impacts.

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