🛢️Proposed Reinstatement of Oil and Gas Leases in Weld County, CO
Proposed Reinstatement of Terminated Oil and Gas Leases, Weld County, CO
Summary
In accordance with the Mineral Leasing Act of 1920, Okreek Oil and Gas LLC, Bison IV Properties Colorado, LLC, and Morning Gun Exploration LLC, filed timely petitions with the Bureau of Land Management (BLM) for reinstatement of competitive oil and gas leases located in Pawnee Grasslands, Weld County, Colorado. The lessees paid the required rentals that accrued from the dates of termination. The BLM has not issued new leases that affect these lands prior to receiving the petition. The BLM proposes to reinstate these leases because they meet the requirements of the Mineral Leasing Act and BLM regulations and are in conformance with the existing Eastern Resource Management Plan, signed on January 9, 2024.
Agencies
- Interior Department
- Land Management Bureau
Business Impact
$$$ - High
The document discusses the reinstatement of oil and gas leases, which directly impacts business owners engaged in these industries. It outlines financial obligations, including rental rates and royalties, alongside compliance with the Mineral Leasing Act. Thus, it creates a regulatory framework that businesses must adapt to.