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Erie council hires broker to value municipal mineral rights as drilling plans move forward
Summary
Council approved a contingency professional services agreement with Alameda Mineral Advisors to solicit offers and report market value for the town's mineral rights. The 7% contingency contract passed 4–3; no sale or lease was authorized by the vote.
Erie, Colo. — The Erie Town Council voted 4–3 on Dec. 16 to hire Alameda Mineral Advisors to solicit offers and advise the town on the market value of its mineral rights in advance of possible oil‑and‑gas spacing and production actions in the area.
The professional services agreement is contingency‑based: Alameda will be paid an agreed percentage (approximately 7%) of aggregate value only if the town accepts offers and a transaction closes. Town staff emphasized the vote authorizes evaluation and marketing only; any…
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