State Land Board says 82% of revenue came from oil and gas; seeks long-term diversification

Summary

Director Nicole Rosmarino told county officials the Colorado State Land Board relied on oil and gas for roughly 82% of its revenue last year and outlined multi-pronged, long-term plans to diversify through renewables, ecosystem services and improved permanent-fund returns while preserving stewardship obligations.

Nicole Rosmarino, director of the Colorado State Land Board, told county officials that oil and gas leasing and production generated about 82% of the board’s income last year and that the agency is pursuing a long-term strategy to diversify revenue for public‑school beneficiaries.

"Eighty‑two percent of our income last year came from oil and gas leasing and royalties," Rosmarino said during a virtual county roundtable. She described the board’s portfolio as roughly 2,800,000 acres of surface land and said the whole trust is valued at about $6,000,000,000, with minerals accounting for roughly $1,000,000,000 of that value. The permanent fund managed by the state treasurer was reported at about $1,900,000,000 as of December.

Rosmarino said the board’s constitutional duties, established in a 1996 amendment, require balancing two pillars: generating "reasonable and consistent income over time" for beneficiaries…

State Land Board says 82% of revenue came from oil and gas; seeks long-term diversification

Summary

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