Colorado Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)
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FAQ
The owner of the Mineral Estate has the right to use a reasonable amount of the surface to explore for oil and gas or grant a lease to an oil and gas company. In Colorado, it's common for surface rights and mineral rights to be severed and owned by different people.
DENVER? Conservation groups and the U.S. Bureau of Land Management have finalized a legal agreement that will prevent new oil and gas leasing across 2.2 million acres of southwestern Colorado until the agency supplements its environmental analysis and releases an amended plan for lands in the area.
The decision applies the commission's 2000-foot setback rule, which was adopted by Colorado in 2020 to help better protect homes and schools from oil and gas development. The setback rule requires that drilling generally stay at least 2000 feet from homes.
As a general rule of thumb, the mineral rights value in Colorado for leased mineral rights is 2x to 3x the total amount of your lease bonus. For example, if you leased your mineral rights for $100,000 you could expect to sell for $200,000 to $300,000.
Colorado recognizes the separate ownership of the Mineral Estate and the Surface Estate, each having distinct private property rights. When different parties own the surface and the subsurface - a common occurrence - this is referred to as a Severed or Split Estate.
Severed mineral interests are considered real property in Colorado law, and as such are subject to taxation.
§34-60-106 ? The COGCC has the authority to regulate "Oil and gas operations so as to prevent and mitigate significant adverse environmental impacts on any air, water, soil, or biological resource resulting from oil and gas operations to the extent necessary to protect public health, safety, and welfare, including ...
To find the owners and lessees of the mineral interests on the subject property, you can do your own research using the public records databases available in the with BLM records at: glorecords.blm.gov, Clerk and Recorder's Office, and the Assessor's Office, or you can hire an attorney or title company to perform the ...