Niobrara leases could bring $1.5B

Denver Business Journal – by Cathy Proctor
Date: Friday, May 27, 2011, 4:00am MDT

Oil and gas operations tapping into the Niobrara play in Colorado could mean up to $1.5 billion in revenue from leasing and royalties at the old Lowry Bombing Range and at nearby Denver International Airport.

A bidding war is expected to erupt this fall when the Colorado State Land Board starts taking bids from oil and gas companies eager to lease mineral rights under the old bombing range. DIA hasn’t set a start date for its lease sale, but expects to put its mineral rights out to bid this year, according to Laura Coale, a DIA spokeswoman.

Read more: Niobrara leases could bring $1.5B | Denver Business Journal

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