The Bureau of Land Management's latest oil and gas lease auction in Colorado has fetched a total of almost $1.1 million. Four parcels covering 4,070 acres were offered at the auction Thursday. Denver-based Context Energy Co. bid the highest per-acre price of $750 per acre for a 164-acre parcel in Moffat County. The BLM also sold two geothermal parcels totaling about 8,353 acres for $33,716.00. Double Heart Lodge LLC paid $2 per acre for a geothermal parcel in Gunnison County. Colorado will receive 49 percent of the proceeds of the sale, with the federal government receiving the rest. The BLM plans to offer 34 parcels totaling 32,285 acres at its next auction May 10. The deadline to submit protests on those parcels is March 12.
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