Oil & Gas Auctions and Results

The State Land Board offers oil and gas leases by competitive auction. Auctions take place in February, May, August, and November each year. 

Auctions occur online, through EnergyNet. To participate in the auction, pre-registration with EnergyNet is required. 

Anyone can nominate state minerals for auction to obtain an oil and gas lease.

  • Leases are awarded to the highest bidder on a per acre basis.
  • The minimum bid amount per acre is the annual lease rental rate.  
  • Bids made above the annual rental rate are referred to as the Lease Bonus and are collected, with the first-year rental and buyer’s premium, as a one-time payment made to EnergyNet at the close of the auction.

View more information on oil and gas leasing on trust lands. Our oil and gas lessees must:

  • Comply with all local, state, and federal regulations.
  • Obtain necessary local, state, and federal permits.
  • Follow our site-specific stewardship stipulations. Violating stewardship stipulations may result in lease termination.

The Colorado Oil and Gas Conservation Commission (COGCC) is the regulatory agency for oil and gas development in the State of Colorado. The State Land Board is a separate agency from the COGCC. Our agency and our lessees are subject to the same local, state, and federal rules and requirements as any private land owner.

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