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Home My WebLink About20191173RESOLUTION RE: AUTHORIZE EXTENSION OF OIL AND GAS LEASE COVERING CERTAIN PROPERTY OWNED BY WELD COUNTY, COLORADO - SW1/4 NE1/4, S8, T5N, R65W WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, Weld County is the owner of vast mineral lands located in Weld County, Colorado, and WHEREAS, Extraction Oil and Gas, Inc., submitted a request to extend the current lease, reception number 4194057, of 0.0437 net mineral acres, more or less, described to -wit: SW1/4 NE1/4 of Section 8, Township 5 North, Range 65 West of the 6th P.M., Weld County, Colorado, and WHEREAS, Weld County desires to approve the request submitted by Extraction Oil and Gas, Inc., to extend the lease on the above -described mineral acreage for $400.00 per net mineral acre, for a total sum of $17.48, which is to run for a period of six (6) months, commencing at twelve o'clock noon on March 16, 2019, and ending at twelve o'clock noon on September 16, 2019. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the request submitted by Extraction Oil and Gas, Inc., to extend the lease on the above -described mineral acreage for $400.00 per net mineral acre, for a total sum of $17.48, which is to run for a period of six (6) months, commencing at twelve o'clock noon on March 16, 2019, and ending at twelve o'clock noon on September 16, 2019, be, and hereby is, granted and approved. 4478431 Pages: 1 of 2 04/03/2019 10:22 AM R Fee:$0.00 Carly Koppel, Clerk and Recorder, Weld County, CO Ell J t' u � ViJ'�r.W'�R��1i 11111 2019-1173 LE0408 RE: AUTHORIZE EXTENSION OF OIL AND GAS LEASE COVERING CERTAIN PROPERTY OWNED BY WELD COUNTY, COLORADO - SW1/4 NE1/4, S8, T5N, R65W PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 25th day of March, A.D., 2019. BOARD OF COUNTY OMMISSIONERS WD COUNTY, CSDL, RADO . ATTEST: w ... do;ok. Weld County Clerk to the Board BY: Deputy Cle APPROVED AS ounty • ttorney Date of signature: £ Il2/19 Mike Freeman, Pro-Tem 4478431 Pages: 2 of 2 04/03/2019 10:22 AM R Fee:$0.00 Carly Koppel, Clerk and Recorder, Weld County, CO II II ara Kirkmeyer,JChair, can P. Conway ames Steve Moreno 5 2019-1173 LE0408 May 21, 2019 WELD COUNTY COLORADO PO BOX 758 GREELEY, CO 80632 RECEIVED MAY 2 't 2919 WELD COUNTY COMMISSIONERS Oil & Gar 370 17th Street, Suite 5300 Denver, CO 80202 720-557-8324 RE: Oil & Gas Lease (Lease Number 65.7182.000) - Re -Issue Extension Payment To Whom It May Concern: This Extension -Payment Letter ("Letter") is provided by Extraction Oil and Gas, Inc. ("Extraction") for the purpose of extending that certain oil and gas lease dated 3/16/2016, by and between WELD COUNTY COLORADO, as Lessor, and Extraction, as Lessee, or successor in interest to Lessee (the "Lease"). Extraction hereby exercises the option to extend the primary term of the Lease an additional 6 month, through 9/15/2019 as provided under the terms of the Lease. Enclosed please find Extraction's check number 54029 in the amount of $17.48 (the "Extension -Payment Amount"). The Extension -Payment Amount serves as the total consideration due under the Lease for the extension of its primary term In order to process your payment and the Lease extension in a timely manner please provide the following: (1) Acknowledge receipt of this Letter and associated payment by executing the Letter, below; (2) Complete the enclosed IRS W-9; and (3) Complete and return the enclosed Change of Address form if the above - listed mailing address is incorrect. A prepaid envelope is enclosed for your convenience. In the event that Extraction provides an Extension -Payment Amount in error or in excess of that due pursuant to the terms of the Lease, Extraction reserves any and all rights to reimbursement of the funds provided pursuant to the Lease. Furthermore, by executing below, you agree to reimburse Extraction for any such Extension -Payment Amounts made by Extraction in error or in excess of the actual amount due under the Lease for a period of time lasting for three (3) years after delivery of the Extension -Payment Amount. Any questions can be directed to the undersigned by phone at 720-557-8324 or by email at jbarber@extractionog.com. Sincerely, EXTRACTION OIL AND GAS, INC. Joel Barber ©©PV Owner ID: 4317/65.7182.000 EXTRACTION of&&Gat 370 17th Street, Suite 5300 Denver, CO 80202 720-557-8324 Extension Payment received this Signature: Printed Name: day of , 2019. RECEIVED MAY 2 4 27.'1 WELD COUNTY COMMIS;-SION .ERP. Please check box if the mailing address listed above is incorrect, and complete the enclosed Change of Address Form. Owner ID: 4317/65.7182.000 Hello