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Weld County approves three oil-and-gas leases after single-bidder oral auctions
Summary
The board approved three oil-and-gas lease resolutions after receiving single bids from Verdad Resources for parcels totaling 800 acres, generating bid totals reported at $288,000, $288,000 and $2,160,000.
Weld County commissioners approved three separate oil-and-gas lease resolutions June 9 after oral auctions that drew a single bidder, Verdad Resources.
Rusty Williams, accounting, reported Verdad’s offers: $1,800 per acre for two 160-acre parcels (totaling $288,000 each) and $4,500 per acre for a 480-acre parcel (totaling $2,160,000). The board moved and approved each resolution during the meeting.
Each lease was presented and approved in turn; commissioners made no additional amendments or public comment in the hearing record. The county recorded the approvals as resolutions, and the chair was authorized to sign for each lease.
The meeting transcript does not detail lease terms, royalty rates, bond requirements or post-auction administrative steps; those elements were not discussed on the record during the oral auctions.
