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Surrender requests should be emailed to the Oil and Gas Specialist, Catie Stitt, (email@example.com) prior to the next anniversary date of the lease. All surrender requests made after the anniversary date can be subject to a pro-rated rent for the amount owed up until the date of surrender. For partial surrenders only contiguous tracts totaling a minimum of 40 acres in a lease can be surrendered (unless the original lease was for less than 40 acres).
Lessees that stop paying rent without providing a proper written surrender request can be charged pro-rated rent. Pro-rated rental charges are calculated based on a timeframe that includes the State Land Board’s determination of non-payment of rent, notification period to the lessee for the unpaid rent, and time to cure the default under the terms of the lease.
A nomination may not be available if there is an active gas storage lease, coal lease, or disposal well lease. Tracts nominated in the Stewardship Trust may also be removed or pushed back to a later auction date for further review.
If you need assistance determining whether a tract is available for nominating, please contact Sherry Lee at 303-866-3454 ext. 3322 or firstname.lastname@example.org.
Nominations require a non-refundable $50.00 application fee per tract. Submitting a nomination places no obligation for either party (the State Land Board nor the nominator) to lease the tract. Each nomination is reviewed by the State Land Board to determine if it is appropriate to lease.
Oil and Gas auctions are held on a quarterly basis in February, May, August, and November. The auction is open for one week starting at 10:00 a.m. on the second Thursday of the auction month and closes one week later (the third Thursday) at 10:00 a.m. See the auction dates and deadlines to submit a nomination.