HomeMy WebLinkAbout20150506.tiff RESOLUTION
RE: APPROVE REQUEST TO WAIVE BID PROCEDURE CONCERNING SMALL TRACT
OIL AND GAS LEASE, ACCEPT OFFER TO LEASE MINERAL ACRE, AND
AUTHORIZE CHAIR TO SIGN - PDC ENERGY, INC.
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, PDC Energy, Inc., 1775 Sherman Street, Suite 3000, Denver, CO 80203,
has requested that the bidding procedure be waived according to the policy as set forth in the
Weld County Code for parcels less than five acres, on the following described mineral acres:
Section 28, Township 4 North, Range 66 West of
the 6th P.M., Weld County, Colorado, as further
described in Exhibit A to said lease.
WHEREAS, PDC Energy, Inc, is offering to lease the above described mineral acres,
containing 0.086 mineral acres, more or less, and
WHEREAS, the Board finds that the lease offer from PDC Energy., Inc, in the amount of
ONE HUNDRED THREE AND 20/100 DOLLARS ($103.20), is acceptable, with the further
terms and conditions being as stated in said Small Tract Oil and Gas Lease, a copy being
attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the request of PDC Energy, Inc., to waive the bidding procedure on
an Oil and Gas Lease concerning the above described mineral acres, be, and hereby is,
granted.
BE IT FURTHER RESOLVED by the Board that the offer of PDC Energy., Inc, to lease
mineral acres, as hereinabove stated, be, and hereby is, accepted.
BE IT FURTHER RESOLVED by the Board that the Chair, be, and hereby is, authorized
to sign said Small Tract Oil and Gas Lease.
2015-0506
LE0362
WAIVE BID PROCEDURE / SMALL TRACT LEASE - PDC ENERGY, INC.
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 18th day of February, A.D., 2015.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST:L�{ M� tom( ,w.� _ . n EXCUSED
Gauirali F/ �Cl� Barbara Kirkmeyer, Chair
Weld County Clerk to the Board n
1 ' 'r�s"+�•r Mike Freeman, Pro-Tem
BY. !._.�L! _ �<I_� . �
De t t lerk to the =o *• ' ' r'
p Sean P. Conway
APPROVED
FOR
' /dc%�
Julie A. Cozad
QI ��County Attorney _j
� Steve Moreno
Date of signature:
2015-0506
LE0362
WELD COUNTY SMALL-TRACT OIL AND GAS LEASE
THIS LEASE AGREEMENT, dated this 14th day of January , 20 15 , made and entered into
by and between WELD COUNTY, COLORADO, a political subdivision of the STATE OF COLORADO,
acting by and through the BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF WELD, for its
respective interests, do BOARD OF COUNTY COMMISSIONERS, 1150 O STREET, P.O. BOX 758,
GREELEY, CO 80632, hereinafter called Lessor, and:
PDC Energy, Inc.
1775 Sherman Street, Suite 3000
Denver, CO 80203
hereinafter called Lessee:
WITNESSETH
WHEREAS, said Lessee has applied to Lessor for an oil and gas lease covering the land herein
described, and has paid a bonus consideration of$ 1,200.00 per mineral acre, fixed by Lessor as
an additional consideration for the granting of this lease, and the following consideration:
WHEREAS, all the requirements relative to said lease agreement have been duly complied with and
said lease agreement has been approved and allowed by Lessor;
THEREFORE, in consideration of the agreements herein, on the part of Lessee to be paid, kept and
performed, Lessor does lease exclusively to Lessee for the sole and only purpose of drilling for,
development of and production of oil and gas, or either of them, thereon and therefrom with the right to
own all oil and gas so produced and saved therefrom and not reserved as royalty by Lessor under the
terms of this lease, together with rights-of-way, easements and servitudes for pipelines, telephone and
telegraph lines, tanks and fixtures for producing and caring for such product, and housing and boarding
employees, and any and all rights and privileges necessary for the exploration and operation of said land
for oil and gas, the following described land situated in the County of Weld, State of Colorado, and more
particularly described as follows:
SEE ATTACHED"EXHIBIT A" FOR LEGAL DESCRIPTION AND ACREAGE
TO HAVE AND TO HOLD said land, and all the rights and privileges granted hereunder to Lessee
until the hour of twelve o'clock noon on the 14th day of January , 20 18 , as primary term, and so
long thereafter as oil and gas, or either of them, is produced in paying quantities from said land or Lessee
is diligently engaged in bona fide drilling or reworking operations on said land, subject to the terms and
conditions herein. Drilling or reworking operations shall be deemed to be diligently performed if there is
no delay or cessation thereof for a greater period than sixty(60) consecutive days, unless an extension in
writing is granted by Lessor; provided that such drilling or reworking operations are commenced during
said primary term or any extension thereof, or while this lease is in force by reason of production of oil
and gas or either of them, or that such reworking is commenced within (60) sixty days upon cessation of
production for the purpose of re-establishing the same, and provided further that such production is
commenced during such primary term or any extension thereof, or while this lease is in force by reason of
such drilling or reworking operations or other production.
EXPLORATION - Lessor reserves the right to conduct exploration on the leased land provided such
exploration does not interfere with rights granted herein.
PURPORTED COPY
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Carly Koppes, I j
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LEO 36:
Small-Tract Oil and Gas Lease
Page 2
In consideration of the premises, the parties covenant and agree as follows:
1. RENTAL-This is a PAID-UP LEASE. In consideration of the down cash payment, Lessor agrees
that Lessee shall not be obligated, except as otherwise provided herein, to commence or
continue any operations during the primary term. Lessee may at any time or times during or after
the primary term surrender this lease as to all or any portion of said land and as to any strata or
stratum by delivering to Lessor or by filing for record a release or releases, and be relieved of all
obligation thereafter accruing as to the acreage surrendered.
2. ROYALTY PROVISIONS:
A. Lessee Responsible for All Costs/Expenses: Lessee shall account for any and all
substances produced on the leased land and shall pay to Lessor as royalty, in addition to the
rentals provided, the royalties described in paragraphs B through E below, which shall be free
of all costs of any kind. In this regard, Lessee agrees to bear one hundred percent(100%) of
all costs and expenses incurred in rendering hydrocarbons produced on or from the Leased
Premises marketable and delivering the same into the purchaser's pipeline for immediate
transportation to an end user or storage facility. If a gas purchase contract makes any
deductions for the expenses of dehydrating, transporting, compressing, manufacturing,
processing, treating, gathering or marketing of such gas, then such deductions shall be
added to the price received by Lessee for such gas for the purpose of the payment of
royalties to Lessor. Additionally, royalties payable to Lessor shall never bear, either directly
or indirectly, under any circumstances, the costs or expenses (including depreciation) to
construct, repair, renovate or operate any pipeline, plant, or other facilities or equipment used
in connection with the treating, separation, extraction, gathering, processing, refining,
transporting, manufacturing or marketing of hydrocarbons produced from the Leased
Premises or lands pooled therewith. It is the intent of the parties that the provisions of this
Paragraph 2 are to be fully effective and enforceable.
B. Royalty Payment on Products: On products, Lessee shall pay Lessor a royalty payment of
eighteen and one-half percent(18.5%) of the gross market value or proceeds of sale thereof,
whichever is higher.
C. Royalty Payment on Residue Gas: On residue gas or gas remaining after separation,
extraction or processing operations, Lessee shall pay Lessor eighteen and one-half percent
(18.5%) of the proceeds of sale or of the market value thereof, whichever is higher.
D. Royalty Payment on Oil: At the option of Lessor, and with sixty (60) days' notice to Lessee,
Lessor may take its royalty oil in kind, in which event Lessee shall deliver such royalty oil to
Lessor on the leased land, free of cost or deduction, into the pipelines or storage tanks
designated by Lessor, but Lessee shall not in such case be required to provide free tankage
for any such oil for a longer period than one month after the same is run into tanks. With
sixty (60) days' notice to Lessee, Lessor may cease taking oil royalty in kind. When paid in
cash, Lessee shall pay Lessor for oil produced and saved from the leased land, eighteen and
one-half percent(18.5%)the market value of the oil at the wellhead, or the price actually paid
to Lessee at the well by the purchaser thereof, whichever is higher; and in no event shall the
royalties be based upon a market value at the well less than the posted price in the field for
such oil, or in the absence of a posted price in the field for such oil, upon a market value at
the well less than the prevailing price received by other producers in the field for oil of like
grade and gravity at the time such oil is run into pipelines or storage tanks.
E. No Refund of Bonus: If Lessor owns a lesser interest in the oil and gas deposits of the
above-described land than the entire and undivided fee simple estate, then the royalties and
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Carly Koppes, Clerk and Recorder. Weld County, CO
■III P ratATYVilO}iIC,w.MINHAII VI9J'ifig iI III
Small-Tract Oil and Gas Lease
Page 3
rentals herein provided shall be paid to Lessor only in the portion which its interest bears to
the whole and undivided fee, but no refund of any bonus consideration shall be made by
Lessor hereunder.
F. Timing of Royalty Payments: All royalties payable under the terms of this lease shall be
payable in cash (unless Lessor elects to take such royalty oil or gas in kind) to Lessor within
one hundred twenty (120) days following the first commercial sale of production and
thereafter no more than sixty (60)days after the end of the month following the month during
which production takes place. Subject to the provisions of Paragraph 16 of this Lease
concerning shut-in wells, royalties shall be paid to Lessor by Lessee and/or its assigns or by
the product purchaser for oil and/or gas. Upon the failure of any party to pay Lessor the
royalty as provided in this paragraph, Lessor may, at Lessor's option, elect to terminate this
Lease by sending written notice to Lessee. Lessee shall then have forty-five (45) days from
the date of service of such written notice in which to avoid termination of this Lease by
making or causing to be made the proper royalty payment or payments that should have
been paid. If such royalty payment is not made on, or before, the expiration of the 45-day
period, or written approval is not obtained from Lessor to defer such payment, Lessor may
elect to terminate this Lease by filing a Notice of Termination with the Weld County Clerk and
Recorder. The effective date of said termination shall be the date said Notice of Termination
is recorded.
G. Effect of "Take or Pay Provision": In the event Lessee enters into a gas purchase contract
which contains what is commonly referred to as a "take or pay provision" (such provision
meaning that the gas purchaser agrees to take delivery of a specified minimum volume or
quantity of gas over a specified term at a specified price or to make minimum periodic
payments to the producer for gas not taken by the purchaser) and the purchaser under such
gas purchase contract makes payment to Lessee by virtue of such purchaser's failure to take
delivery of such minimum volume or quantity of gas, then Lessor shall be entitled to eighteen
and one-half percent (18.5%) of all such sums paid to Lessee or producer under the "pay"
provisions of such gas purchase contract. Such royalty payments shall be due and owing to
Lessor within sixty (60) days after the receipt of such payments by Lessee. If the gas
purchaser "makes up" such gas within the period called for in the gas contract and Lessee is
required to give such purchaser a credit for gas previously paid for but not taken, then Lessor
shall not be entitled to royalty on such "make up" gas. If Lessee is not producing any
quantities of gas from the Leased Premises but is receiving payments under the "pay" portion
of such "take or pay" gas purchase contract provision, such payments shall not relieve
Lessee of the duty to make shut-in royalty payments if Lessee desires to continue this Lease,
but such "take or pay" royalty payments shall be applied as a credit against any shut-in
royalty obligation of the Lessee. Lessor shall be a third-party beneficiary of any gas purchase
contract and/or transportation agreement entered into between Lessee and any purchaser
and/or transporter of Lessor's gas, irrespective of any provision of said contracts to the
contrary, and such gas purchase contract and/or transportation agreement will expressly so
provide. Further, Lessor shall be entitled to eighteen and one-half percent (18.5%) of the
value of any benefits obtained by, or granted to, Lessee from any gas purchaser and/or
transporter for the amendment, modification, extension, alteration, consolidation, transfer,
cancellation or settlement of any gas purchase contract and/or transportation agreement.
H. Recovery of Liquid Hydrocarbons: Lessee agrees that before any gas produced from the
Leased Premises is used or sold off the Leased Premises, it will be run, free of cost to
Lessor, through an adequate oil and gas separator of a conventional type or equipment at
least as efficient, to the end that all liquid hydrocarbons recoverable from the gas by such
means will be recovered on the lease and Lessor properly compensated therefor.
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Carly Koppes. Clerk and Recorder, Weld County, Co (Revised 06/2014)
VIII1i�1lhfiR,�t1,44'I�i�'M.'��Flxh,l��k+it'IiKrIf�h.YLr� �IIII
Small-Tract Oil and Gas Lease
Page 4
I. Excess Payments to Lessor: Any payment of royalty or shut-in gas royalty hereunder paid to
Lessor in excess of the amount actually due to the Lessor shall nevertheless become the
property of the Lessor if Lessee does not make written request to Lessor for reimbursement
within one (1) year from the date that Lessor received the erroneous payment, it being
agreed and expressly understood between the parties hereto that Lessor is not the collecting
agent for any other royalty owner under the lands covered hereby, and a determination of the
name, interest ownership and whereabouts of any person entitled to any payment
whatsoever under the terms hereof shall be the sole responsibility of Lessee. It is further
expressly agreed and understood that: (i) this provision shall in no way diminish the
obligation of Lessee to make full and punctual payments of all amounts due to Lessor or to
any other person under the terms and provisions of this Lease, and (ii) any overpayments
made to the Lessor under any provisions of this Lease shall not be entitled to be offset
against future amounts payable to parties hereunder.
J. Effect of Division Order: The terms of this Lease may not be amended by any division order
and the signing of a division order by any mineral owner may not be made a prerequisite to
payment of royalty hereunder.
K. Limitation of Sale to Subsidiaries and/or Affiliates: Oil, gas or products may not be sold to a
subsidiary or affiliate of Lessee as defined herein without the Lessor's prior written
permission.
L. Royalty Payable on All Gas Produced: Lessee shall pay Lessor royalty on all gas produced
from a well on the Leased Premises and sold or used off the Leased Premises, regardless of
whether or not such gas is produced to the credit of Lessee or sold under a contract executed
by or binding on Lessee. Should gas be sold under a sales contract not binding on Lessee,
Lessor's royalty will be calculated based on the highest price paid for any of the gas
produced from the well from which such gas is produced. In no event will the price paid
Lessor for Lessor's share of gas be less than the price paid Lessee for Lessee's share of
gas.
3. LESSOR'S ACCESS TO LEASED PROPERTY AND RECORDS
A. Records Generally: Lessee agrees to keep and to have in its possession complete and
accurate books and records showing the production and disposition of any and all
substances produced on the leased land and to permit Lessor, at all reasonable hours, to
examine the same, or to furnish copies of same to Lessor upon request along with
purchaser's support documentation. Lessor will not be unreasonable with requests. All said
books and records shall be retained by Lessee and made available in Colorado to Lessor for
a period of not less than five(5) years.
B. Access to Premises: Lessor shall have free access, at all times, to all wells, tanks, and other
equipment on the Leased Premises, including drilling wells, and Lessee agrees to furnish
Lessor, or Lessor's nominee, currently and promptly, upon written request, with full well
information including cores, cuttings, samples, logs (including Schlumberger and other
electrical logs), copies and results of deviation tests and directional and seismic surveys, and
the results of all drill stem tests and other tests of other kind or character that may be made of
wells on the Leased Premises. Lessor or Lessor's nominee shall be furnished with, and have
free access at all times to, Lessee's books and records relative to the production and sale of
oil, gas or other minerals from the Leased Premises, including reports of every kind and
character to local, State or Federal governmental authorities. Lessor shall have the right, at
its election, to employ gaugers or install meters to gauge or measure the production of all
minerals produced from the premises, and Lessee agrees to prepare and deliver to Lessor or
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Carly Koppes, Clerk and Recorder, Weld County, CO (Revised 06/2014)
1IIiMIlidDvi;i4n:Kg5O14Rk��kftilY�Y k1WiI1 11111
Small-Tract Oil and Gas Lease
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Lessor's gauger or nominee duplicate run or gauge tickets for all minerals removed from the
premises. Lessee shall furnish to Lessor daily drilling reports on each well drilled upon
request.
C. Gas Purchase Agreements/Gas Contracts: At least thirty (30) days prior to the delivery or
the execution of any contract for the sale, delivery, transporting or processing of gas
produced from the Leased Premises, Lessee shall provide Lessor with a complete copy of
each proposed contract for the purchase, transportation and/or processing of such gas that
Lessee intends to execute (each a "Gas Contract"), whereupon, Lessor may object if the
terms of said Gas Contract conflict with the terms and conditions of this Lease. Lessee shall
furnish to Lessor, within a reasonable time after its execution, a copy of any Gas Contract or
transportation agreement entered into in connection with the Leased Premises, or if there is
already a Gas Contract or transportation agreement in effect due to Lessee's operations in
the field, then a copy of that contract. Furthermore, a copy of any amendments to the gas
purchase contract or transportation agreement shall be furnished said Lessor within
thirty(30) days after execution thereof; and on request of Lessor and without cost to the
Lessor, Lessee shall furnish Lessor a copy of the following reports: core record, core
analysis, well completion, bottom hole pressure measurement, directional survey records,
electrical and induction surveys and logs, gas and oil ratio reports, paleontological reports
pertaining to the paleontology of the formations encountered in the drilling of any wells on the
Leased Premises, and all other reports which pertain to the drilling, completing or operating
of the wells located on the Leased Premises. Such information shall be solely for Lessor's
use, and Lessor shall attempt to keep same confidential for twelve (months after receipt,
subject to its obligation to comply with the Public Records requirements under Colorado law.
Lessee agrees that it will not enter into any contract for the sale, delivery, transporting or
processing of gas produced from the Leased Premises which shall extend more than two (2)
years from the effective date of such sales contract unless such contract has adequate
provisions for redetermination of price at intervals of no less frequency than one (1) year to
ensure that production from this Lease is not being sold for less than the then current market
value.
D. Lessee to Advise Regarding Well Status: Lessee shall advise Lessor, in writing, of the
location of all wells drilled upon the Leased Premises on or before thirty (30) days prior to
commencement of operations, and shall advise Lessor, in writing, the date of completion
and/or abandonment of each well drilled within thirty (30) days after completion or
abandonment.
4. MEASUREMENTS: All production shall be accurately measured using standards established by
the American Gas Association (AGA) and/or the American Petroleum Institute (API) and all
measuring devices shall be tamper proof as nearly as possible. Oil royalties due within the terms
of this lease shall be calculated on actual and accurate measurements within API standards
unless a different means of measurement, subject to Lessor's approval, is provided.
5. PAYMENTS AND REPORTS: All payments and reports due hereunder shall be made on or
before the day such payments and reports are due. Nothing in this paragraph shall be construed
to extend the expiration of the primary term hereof. Oil royalty payments and supporting
documents shall be submitted prior to the last day of the month following each month's sale of
production, and gas royalty payments and supporting documents shall be submitted prior to the
last day of the second month following each month's sale of production. All payments shall be
made by cash, check, certified check, or money order. Payment having restrictions,
qualifications, or encumbrances of any kind whatsoever shall not be accepted by Lessor. A
penalty for a late payment shall be charged as set forth in the PENALTIES paragraph herein.
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Carly Koppel. Clerk and Recorder, Weld County, CO �I III (Revised 06/2014)
■III I�,i�1lL'}'t�l'�,v�Mh��«��Vuhl;�t��.1FJI��P�tiikhJ'�Yls��,
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6. PENALTIES: A penalty shall be imposed for, but not limited to, late payments, improper
payments, operational deficiencies, violation of any covenant of this lease, or false statements
made to Lessor. Penalties shall be determined by Lessor, unless otherwise provided for by law,
and may be in the form of, but not limited to, interest, fees, fines, and/or lease cancellation. A
penalty schedule shall be prepared by Lessor and shall become effective immediately after public
notice. Said schedule may be changed from time to time after public notice.
7. LAW: The terms and conditions of this lease shall be performed and exercised subject to all
laws, rules, regulations, orders, local ordinances or resolutions applicable to, and binding upon,
the administration of lands and minerals owned by the County of Weld, and to laws, rules and
regulations governing oil and gas operations in Colorado. Violations shall result in penalties as
provided for by law or as set forth in the aforementioned schedule or shall, at the option of
Lessor, result in default as provided hereinafter.
8. SURRENDER: Lessee may at any time, by paying to Lessor all amounts then due as provided
herein, surrender this lease insofar as the same covers all or any portion of the land herein
leased and be relieved from further obligations or liability hereunder with respect to the land so
surrendered; provided that this surrender clause and the option herein reserved to Lessee shall
cease and become absolutely inoperative immediately and concurrently with the institution of any
suit in any court of law by Lessee, Lessor or any assignee of either to enforce this lease, or any of
its terms expressed or implied. In no case shall any surrender be effective until Lessee shall
have made full provision for conservation of the leased products and protection of the surface
rights of the leased land.
9. ASSIGNMENTS:
A. Fee for Assignments: Lessee, upon payment of a $100.00 fee and prior written consent of
Lessor (which shall not be unreasonably withheld), shall have the right to assign the entire
leasehold interest of said Lessee in all or part of the land covered hereby. Prior to written
approval by Lessor of assignment of this lease, Lessee (assignor) shall not be relieved of its
obligations under the terms and conditions herein. An assignment shall not extend the term
of this lease.
B. Partial Assignment: If any assignment of a portion of the land covered hereby shall be
approved, a new lease shall be issued to the assignee covering the assigned land, containing
the same terms and conditions as this lease, and limited as to term as this lease is limited,
and the assignor shall be released and discharged from all further obligations and liabilities
as to that portion so assigned.
C. Lessee to Notify: Lessee shall notify Lessor of all assignments of undivided percentage or
other interests. Said interests will not be recognized or approved by Lessor, and the effect of
any such assignments will be strictly and only between the parties thereto, and outside the
terms of this lease, and no dispute between parties to any such assignment shall operate to
relieve Lessee from performance of any terms or conditions hereof or to postpone the time
therefore. Lessor shall at all times be entitled to look solely to Lessee or his assignee shown
on its books as being the sole owner hereof, and for the sending of all notices required by this
lease and for the performance of all terms and conditions hereof.
D. Filing with Lessor: Although not binding on Lessor, all instruments of every kind and nature
whatsoever affecting this lease should be filed with the Lessor.
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Carly Koppes, Clerk and Recorder, Weld County, CO
■III WIFAA7fif'MY W,^MFf,G Ili Bill (Revised 06/2014)
Small-Tract Oil and Gas Lease
Page 7
10. OVERRIDING ROYALTY: Any and all reservations or assignments or overriding royalties shall
be subject to approval by Lessor. The total of said overriding royalties shall not exceed
five percent (5%), including any overriding royalty previously provided for unless production
exceeds a monthly average of fifteen (15)barrels per day or ninety thousand cubic feet of gas per
day (90 MCF/D). In the event production drops to this amount or less, any overriding royalties
which exceed five percent (5%) may be suspended. Lessor's approval of a reservation or
assignment of an overriding royalty shall not bind Lessor for payment of said overriding royalty
and shall not relieve Lessee of any of its obligations for payment of royalties to Lessor as
provided by ROYALTY paragraphs herein.
11. OFFSET WELLS: Lessee agrees to protect the leased land from drainage by offset wells
located on adjoining lands not owned by Lessor, when such drainage is not compensated for by
counter-drainage. It shall be presumed that the production of oil and gas from offset wells results
in drainage from the leased land, unless Lessee demonstrates to Lessor's satisfaction, by
engineering, geological, or other data, that production from such offset well does not result in
such drainage, or that the drilling of a well or wells on the leased land would not accomplish the
purposes of protecting the deposits under the leased land. Lessor's decision as to the existence
of such drainage shall be final, and Lessee shall comply with Lessor's order thereon or surrender
this lease as to any such undeveloped acreage as designated by Lessor.
12. DEVELOPMENT: Upon discovery of oil and gas or either of them on the leased land, Lessee
shall proceed with reasonable diligence to develop said land at a rate, and to an extent,
commensurate with the economic development of the field in which the leased land lies.
13. POOLING CLAUSE: Lessee may at any time or times pool any part or all of said land or lease
or any stratum or strata with other lands and leases, stratum or strata, in the same field so as to
constitute a spacing unit to facilitate an orderly or uniform well-spacing pattern or to comply with
any order, rule, or regulation of the State or Federal regulatory or conservation agency having
jurisdiction. Such pooling shall be accomplished or terminated by filing of record and with the
Colorado Oil and Gas conservation Commission a declaration of pooling, or declaration of
termination of pooling, and by mailing or tendering a copy to Lessor,. Drilling or reworking
operations upon or production from any part of such spacing unit shall be considered for all
purposes of this lease as operations or productions from this lease. Lessee shall allocate to this
lease the proportionate share of production which the acreage in this lease included in any such
spacing unit bears to the total acreage in said spacing unit.
14. UNITIZATION —COMMUNITIZATION: In the event Lessor permits the land herein leased to be
included within a communitization or unitization agreement, the terms of this lease may be
deemed to be modified to conform to such agreement. When only a portion of the land under this
lease is committed by an agreement, Lessor may segregate the land and issue a separate lease
for each portion not committed thereunder; the term of such separate lease shall be limited as to
the original term of this lease. The terms of the lease on that portion remaining in the unit shall
be deemed to be modified to conform to such agreement. Non-producing leases shall terminate
on the first anniversary date of the lease following the termination date of the unit or part thereof
modifying the lease, but in no event prior to the end of the primary term of the lease or the
extension term of the lease.
15. PRODUCTION: Lessee shall, subject to applicable laws, regulations and orders, operate and
produce all wells upon the leased land so long as the same are capable of producing in paying
quantities, and shall operate the same so as to produce at a rate commensurate with the rate of
production of wells on adjoining lands within the same field and within the limits of good
engineering practice, except for such times as there exist neither market nor storage therefore,
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Carly Koppel, Clerk and Recorder, Weld County, CO (Revised 06/2014)
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Small-Tract Oil and Gas Lease
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and except for such limitations on, or suspensions of, production as may be approved in writing
by Lessor. Lessee shall be responsible for adequate site security on all producing properties.
16. SHUT-IN WELLS: If Lessee shall complete a well on the leased land productive of gas and
Lessee is unable to produce such gas due to a lack of suitable market therefore, Lessor may
grant Lessee suspension of his obligations to produce hereunder until a suitable market for such
gas can be found, and during any such suspension period, it shall be deemed that gas is being
produced hereunder in paying quantities. Except, however, that beginning on the anniversary
date next, of the year of an extension of the lease by reason of a shut-in well, Lessee shall pay to
Lessor a shut-in royalty equal to$2.50 per acre of the lease per annum. The minimum amount of
such shut-in royalty payment shall be $240. Each year's shut-in royalty shall be forfeited to
Lessor except for the shut-in royalty paid for the year during which the well begins production.
The maximum extension of the lease, due to the existence of a shut-in well, shall be five (5) years
beyond the extension term as described in the EXTENSION paragraph herein. The granting of
any further extensions shall be at the sole option of Lessor.
17. OPERATIONS: Exploration, drilling or production operation, including permanent installations,
shall be in compliance with all Colorado Oil and Gas Conservation Commission and State of
Colorado Regulations. Reports required to be filed with the Colorado Oil and Gas Conservation
Commission shall be made immediately available to Lessor upon request.
18. NOTIFICATION: Lessee shall notify Lessor and the surface lessee or surface owner of the
location of each drill site at least two weeks prior to commencing drilling operations thereon.
Lessee shall notify Lessor before commencing to plug and abandon any well by copy of Lessee's
request for approval or sundry notice of intent to plug and abandon.
19. BONDS: Lessee shall be liable for all damages to the surface of the land, livestock, growing
crops, water wells, reservoirs, or improvements caused by Lessee's operations on said land. No
operations shall be commenced on the land hereinabove described unless and until Lessee shall
have filed a good and sufficient bond with Lessor, in an amount to be fixed by Lessor, to secure
the payment for such damages as may be caused by Lessee's operations on said land and to
assure compliance with all the terms and provisions of this lease, the laws of the State of
Colorado, and the rules and regulations thereto appertaining. A bond may be held in effect for
the life of production of any well.
20. SETTLEMENT: Lessee shall not remove any machinery, equipment or fixtures placed on said
land, other than drilling equipment, nor draw the casing from any well unless and until all
payments and obligations currently due Lessor under the terms of this lease shall have been paid
or satisfied. Any machinery, equipment or fixtures left on this land for a period of more than
six(6)months after the expiration hereof, shall automatically become the property of Lessor.
21. OTHER DISCOVERY: Should Lessee discover any valuable products other than oil and gas, on
or within the leased land, Lessee shall within seven (7) days report such discovery to Lessor, in
which event Lessee and Lessor may negotiate a provision for production of such discovery.
22. WATER: This lease does not grant permission, express or implied, to Lessee for water
exploration, drilling, or establishing water wells without the written permission of the surface
owner. If Lessor is the surface owner, said permission shall not be unreasonably withheld. If
Lessee desires to establish or adjudicate any water right for beneficial use on the leased land,
any such adjudication or application shall be in the name of Lessor if Lessor is the surface owner.
The same shall apply to any non-tributary water rights established on the leased land which may
be put to beneficial use off said land.
4085083 Pages: 8 of 13
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Carly Koppes, I Clerk l and Recorder, Weld County, CO
IIIIIIII M1�1��T�t IriNv «IiIV �iJ kIIatE.hfI�L�IF i!� FI II II I (Revised 06/2014)
Small-Tract Oil and Gas Lease
Page 9
23. DEFAULT: Upon failure or default of Lessee to comply with any of the terms and provisions
hereof including, but not limited to, the failure to comply with laws, rules and regulations
governing Colorado oil and gas operations, Lessor is hereby authorized upon notice and hearing,
as hereinafter provided, to cancel this lease as to all of the leased land so claimed or possessed
by lessee hereunder. In the event of any such default or failure, Lessor shall, before making any
such cancellation, send to Lessee by certified mail, to the post office address of said lessee as
shown by the records of Lessor, a notice of intention to cancel for such failure or default,
specifying the same, stating that if within forty-five (45) days from the date of mailing said notice,
Lessee shall correct such failure or default, no cancellation will be made. If such failure or default
is not corrected within forty-five (45) days after the mailing of such notice, and if Lessee does not
request a hearing on such notice within forty-five (45) days, this lease will terminate and be
canceled by operation of this paragraph without further action by Lessor, or further notice to
Lessee.
24. EXTENSION: If Lessee fails to make discovery of oil and gas, or either of them, in paying
quantities during the primary term hereof, or during drilling operations commenced during the
primary term hereof, Lessee may make written application to Lessor for an extension of this
lease. The granting of such extension shall be at the sole option of Lessor, according to the
following conditions:
A. Extension Limit: No lease term will be extended for more than six (6) months from the
original expiration date.
B. Extension Payment: The Lessee shall pay to the Lessor the sum of one-third of the original
bonus.
C. No Change in Royalty: The royalty will remain the same.
25. HOLD HARMLESS: Lessee shall indemnify Lessor against all liability and loss, and against all
claims and actions, including the defense of such claims or actions, based upon, or arising out of,
damage or injury, including death, to persons or property caused by, or sustained in connection
with, operations on this leased land or by conditions created thereby, or based upon any violation
of any statute, ordinance, or regulation.
26. CONDEMNATION: If the leased land shall be taken in any condemnation proceeding, this lease
shall automatically terminate as of the date of taking. The award for such condemnation shall be
paid to Lessor, except for any specific award(s) paid to Lessee for severed oil and gas reserves,
in which event 50% of such specific award(s) shall be paid to Lessor in lieu of royalty lost by
virtue of the condemnation. Improvements shall be removed by Lessee per terms in the
SETTLEMENT paragraph herein. If only a portion of the leased land is taken by condemnation,
Lessor may, at its option, terminate this lease or terminate only that portion of the lease so taken.
27. ERRORS: Every effort is made by Lessor to avoid errors in all procedures including, but not
limited to, auction listings and lease preparation. Lessor shall not be liable for any inconvenience
or loss caused by errors which may occur. Lessee shall notify Lessor immediately upon
discovery of any errors or discrepancy whatsoever.
28. ARCHAEOLOGY: Lessee shall not destroy, disturb, mar, collect, remove or alter any prehistoric
or historic resources of any kind on Weld County lands as provided by law. These resources
include, but are not limited to, all artifacts of stone, wood or metal, pictographs, structures, and
bones. A discovery of anything of prehistoric or historic nature shall be reported to Lessor or the
State of Colorado Archaeologist immediately.
4085083 Pages: 9 of 13
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Carly Koppes. Clerk and Recorder, Weld County, CO
VIIIMi�11L}?�'u,titd+L��i1,YOhF'dfhiliFMPIllilv4Y4iiBill (Revised 06/2014)
Small-Tract Oil and Gas Lease
Page 10
29. DEFINITIONS: For purposes of this Lease, the following definitions apply:
A. "Products"refers to any and all substances produced on the leased property, including all oil
and gas,found on or under the leased property.
B. "Market Value"shall mean for gas and products therefrom (i) the gross price at which gas or
products therefrom are sold pursuant to a Gas Contract, as defined in paragraph 2C, or (ii) if
not sold pursuant to a Gas Contract, as defined in paragraph 2C, the highest gross price
reasonably obtainable for the quantity of gas or products available for sale,through good faith
negotiations for gas or products produced from the Leased Premises at the place where such
gas or product is available for sale on the date of such a contract with adequate provisions for
redetermination of price at intervals of no less frequency than two (2) years to ensure that the
production is being sold for no less than the current market price. Included within the
definition of "Market Value" as used herein is the presumption that Gas Contracts are
arms-length contracts with purchasers who are not subsidiaries or affiliates of Lessee.
"Market Value" shall never be less than the amount actually received by the Lessee for the
sale of hydrocarbons.
C. "Affiliate" is defined as the parent company or a subsidiary of Lessee, a corporation or other
entity having common ownership with Lessee, a partner or joint venturer of Lessee with
respect to the ownership or operation of the processing plant, a corporation or other entity in
which Lessee owns a ten percent or greater interest, or any individual, corporation or other
entity that owns a ten percent or greater interest in Lessee.
D. "Costs" and/or "Expenses" shall mean all costs of gathering, production, transportation,
treating, compression, dehydration, processing, marketing, trucking or other expense, directly
or indirectly incurred by Lessee, whether as a direct charge or a reduced price or otherwise,
including fuel use attributable to any of the services listed above. "Costs" or"Expenses" also
include depreciation, construction, repair, renovation or operation of any pipeline, plant, or
other facilities or equipment used in connection with the treating, separation, extraction,
gathering, processing, refining, transporting, manufacturing or marketing of hydrocarbons
produced from the Leased Premises or lands pooled therewith.
E. "Gas"as used herein shall mean all gases (combustible and noncombustible) including, but
not limited to, all gaseous hydrocarbons, gaseous compounds, carbon dioxide, and helium.
F. "Oil and gas"as used herein shall include all substances produced as by-products therewith,
including, but not limited to, sulfur.
G. "Paying quantities" as used herein shall mean and refer to quantities of oil and gas or of
either of them sufficient to pay for the current cost of producing same.
30. HEIRS AND ASSIGNS: The benefits and obligations of this lease shall inure to, and be binding
upon, the heirs, legal representatives, successors or assigns of Lessee; but no sublease or
assignment hereof, or of any interest herein, shall be binding upon Lessor until the same has
been approved by Lessor as explained in the ASSIGNMENTS paragraph provided above.
31. WARRANTY OF TITLE: Lessor does not warrant title to the leased premises, but it shall, upon
request, allow Lessee access to such abstracts and other title papers as it has in its files. There
shall be no obligation on Lessor's part to purchase new or supplemental or other title papers, nor
to do any curative work in connection with title to the subject lands.
4085083 Pages: 10 of 13
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Carly Koppes, Clerk and Recorder, Weld County, CO
■III�l�1R�411��h,'��IW SP�*�kl 4R��Yi�l''!Ylµ�,bYl�, ■I II I (Revised 06/2014)
Small-Tract Oil and Gas Lease
Page 11
32. FORCE MAJEURE: Neither party shall be responsible for delays or failures in performance
resulting from acts or occurrences beyond the reasonable control of such party, including, without
limitation: fire, explosion, power failure, flood, earthquake or other act of God; war, revolution, civil
commotion, terrorism, or acts of public enemies; any law, order, regulation, ordinance, or
requirement of any government or legal body or any representative of any such government or
legal body; or labor unrest, including without limitation, strikes, slowdowns, picketing or boycotts.
In such event, the party affected shall be excused from such performance (other than any
obligation to pay money) on a day-to-day basis to the extent of such interference (and the other
party shall likewise be excused from performance of its obligations on a day-to-day basis to the
extent such party's obligations relate to the performance so interfered with).
33. SURVEYS, ABSTRACTS, TITLE OPINIONS AND CURATIVE WORK:
A. If Lessee shall cause any of the exterior or interior lines of the property covered by this lease
to be surveyed, Lessee shall furnish Lessor a copy of such survey. Lessee shall furnish
Lessor, within a reasonable time, with a copy of all maps submitted to the Corps of Engineers
of the United States Army, Railroad, or other governmental or official agency or department
having jurisdiction, showing the proposed location of all roads, pipelines, canals and drill sites
on the Leased Premises.
B. All abstracts of title, whether new or supplementary, obtained by Lessee and covering the
subject lands shall become the property of, and be delivered to, Lessor after Lessee has
completed its title examination and curative work, subject, however, to the right of Lessee to
use such abstracts upon request at any time during the term of the lease. Therefore, if
Lessee causes an abstract of title to be prepared covering the property herein leased, or any
portion thereof or if Lessee shall cause the title to be examined or should obtain a title opinion
or title certificate upon the property herein leased, Lessee agrees to furnish Lessor a copy
thereof within two (2) weeks of Lessee's receipt thereof. Lessor agrees that neither Lessee
nor the attorney or firm of attorneys rendering the opinion or certificate shall be responsible to
Lessor for its correctness, the said opinion or certificate being furnished to Lessor simply for
its own convenience, information and personal use. Similarly, if any curative material is
obtained by Lessee, a copy thereof shall immediately be furnished Lessor under the same
conditions of non-liability on the part of the Lessee or the persons who may have obtained or
prepared the same.
IN WITNESS WHEREOF, Lessor has hereunto signed and caused its name to be signed by the
CHAIR, BOARD OF COUNTY CO OF THE COUNTY OF WELD, with the seal of the
office affixed, and Lessee has si' the day and year first above written.
LESSOR:
�yL
ATTES dgfa4441 � 'p,,,.c � BOARD OF COUNTY COMMISSIONERS
Weld ounkk erk to the Bo •, / WELD COUNTY, COLORADO
lay --,
By: �ai`o1►_ ecL. r`I� By Board of County Commissioners. Pro-Tem
Deputy Clerto the Board
Mike Freeman FEB 1 8 2015
4085083 Pages: 11 of 13
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Carly Koppes. Clerk and Recorder, Weld County, CO `��/K' � h��
■III ,li�41�i i�Cd,4�PLiI�tiNiI! �'�Ydi�l�N1P,Y4+} �I III ✓
(Revised 06/2014)
Small-Tract Oil and Gas Lease
Page 12
LESSEE:
PDC Energy, Inc.
Company Name
aturer
O. F. Baldwin II,Vice President Land
Colorado Printed Name and Title
Dorao
STATE OF )
ss
COUNTY OF Q U'eV ) ll rr,, da d�
The foregoing instrument was acknowledged before me this y of Sa.11ua✓l
20IS , by 0 . !'. UA'GJJW '\rl .
Wi ess my hand and official seal.a 11 Notary Ptlblic�
My Commission Expires:
I PATTY RICHARDSON NOTARY PUBLIC LESSEE: (second signature if applicable)
STATE OF COLORADO
NOTARY ID 20014003349
My Commission Expires Feb. 17, 2017
Company Name
Signature
Printed Name and Title
STATE OF )
ss
COUNTY OF )
The foregoing instrument was acknowledged before me this day of ,
20 , by
Witness my hand and official seal.
Notary Public
My Commission Expires:
4085083 Pages: 12 of 13
CCarizy3 Koppes�},OC�lJe`rk' and Recorder,
'11 R Weld uCfouuntyy CO WW `
1111 Ri'111'�4 Ma'1�tltrl til.'i'}lll`Ii IVlt LIC7ti iii, 11111 (Revised 06/2014)
Small-Tract Oil and Gas Lease
Page 13
EXHIBIT A
0.086 ACRES
LEGAL DESCRIPTION:
Township 4 North, Range 66 West, 6th P.M.
Section 28: Lot 28, Block 21, Townsite of Gilcrest
4085083 Pages: 13 of 13
02/23/2015 01:12 PM R Fee:$0.00
Carly Koppes, Clerk and Recorder. Weld County, CO
liltfr' k&l .M!i, r�r�,k 'III!
(Revised 06/2014)
LONETREEENoERGY
atitCIATES, LLC
January 22,2015
Weld County Colorado
Attn: Karla Ford
1150O Street RECEIVED
P.O. Box 758
Greeley, CO 80632 JAN 2 3 2015
WELD COUNTY
RE: Weld County Small Tract Oil and Gas Leases COMMISSIONERS
Township 4 North,Range 66 West, 6th P.M.
Section 28: Lots 14, 25-30, Block 21, Townsite of Gilcrest
Dear Ms. Ford,
Enclosed are 2 original executed copies of each of the following Weld County Small-Tract Oil and Gas
Leases covering the above captioned lands which have been executed and notarized by the proper authorities
of PDC Energy, Inc.:
1. Weld County Small Tract Oil and Gas Lease covering Lot 14, Block 21 (HOW-1192)
2. Weld County Small Tract Oil and Gas Lease covering Lot 25, Block 21 (HOW-1193)
3. Weld County Small Tract Oil and Gas Lease covering Lot 26, Block 21 (HOW-1194)
4. Weld County Small Tract Oil and Gas Lease covering Lot 27, Block 21 (HOW-1195)
5. Weld County Small Tract Oil and Gas Lease covering Lot 28, Block 21 (HOW-1196)
6. Weld County Small Tract Oil and Gas Lease covering Lot 29, Block 21 (HOW-1197)
7. Weld County Small Tract Oil and Gas Lease covering Lot 30, Block 21 (HOW-1198)
8. Weld County Small Tract Oil and Gas Lease covering Lot 31, Block 21 (HOW-1199)
Also enclosed is a copy of the recorded Deed from Weld County to P.H. Ferch in which Weld County retains
the mineral rights in the above described tracts of land, the Tax Assessor Property Profiles which describe the
acreage associated with each Lot and Block, the title attorney's Unleased Minerals Spreadsheet indicating
Weld County's ownership in the above described tracts (in lieu of the title opinion), check no 92084 in the
amount of$825.60 to serve as the full bonus consideration for the 8 leases, and the receipt letter confirming
your receipt of check no. 92084. Please review, approve, record, and return the enclosed leases to our office at
your earliest convenience. I appreciate all of your help throughout this process.
If you have any questions or comments regarding this matter, please do not hesitate to contact me at 303-233-
8700 x 106.
Acreage and Bonus Calculations:
Lot 14/Block 21 =0.086 acres x$1200 = $103.20
Lot 25/Block 21 =0.086 acres x$1200= $103.20
Lot 26/Block 21 =0.086 acres x $1200=$103.20
Lot 27/Block 21 =0.086 acres x$1200=$103.20
Lot 28/Block 21 =0.086 acres x$1200= $103.20
Lot 29/Block 21 =0.086 acres x $1200=$103.20
Lot 30/Block 21 = 0.086 acres x $1200=$103.20
Lot 31/Block 21 =0.086 acres x $1200= $103.20
3 WEST DRY CREEK CIRCLE • LITTLETON, CO BO 120
T (303) 233-8700 • F (303) 233-8787
'ulaz� y`'r4Ic--3�� , =,:c._I,. 801K1134 PAce593
DEED FROM COUNTY—TIN McVey Printery, Greeley. Colo.Petasdon N,9..u& R(1h, '9pomer,Rem,ds
Knout AL! Alen lily Uliesr rrarllts, That Whereas,an Treasurer's Deedrawa executed on the
12th setae r
ign day of.. rl1ter 19... conveying the hereinafter described roperty to Weld Co
a lawfu �r�§5o�Rg��g'ytuterl�c�oun�y of the State of Colorado, and said Treasurer's DeedXR9kvrdeu(y recorded in Boo6e..jL!A5
a4 9ge54 5f9 end eereecords of the County Clerk and Recorder of the County of Weld, State of Colorado; NI
AND WHEREAS the County Commissioners of the County of Weld did elect to sell said property as provided
• by law,and did cause notice of sale at public auction of such Real Estate to be advertised in two issues of
The Greeley Booster a newspaper of general circulation in the said County of Weld;
the first notice advertised not more than thirty days nor less than twenty days before the date of such sale, and
second notice'advertised not more than fifteen days nor less than five days before such sale,and did post said notice
in a public place in the County Courthouse for at least thirty days before the date of such sale; and thereupon did
offer such real estate for sale at public auction quarotTerxala) on the MIL .day of..ARBlI 194.4_,
(at the time and place as stated in said advertised notice;) nn��
AND WHEREAS, 4-_i1....Farch of thiViTntyno% Denver
State of Colorado bid for said property the sum of ..S iio..hundr.ed..Yltty-nlna DOLLARS
and no CENTS,which bid being the highest and best bid for cash in hand (and being more than
one-third of the latest appraisal of the full cash value made by the County Assessor`of said property) was accepted
by the Board of County Commissioners of the said County of Weld;
AND WHEREAS, the said 2....H.,.F.oCgh has paid the sum of
..-Siva..hundred..r ltyenine DOLLARS and ..no CENTS
in full payment of said bid for said property:
NOW THEREFORE,Weld County,by....Harold.A Seaman its Commissioner appointed to execute
this deed being the same person as Harald H, Seeman , the duly qualified (flepntjx County Treasurer of
Weld County,acting upon the direction of the Board of County Commissioners of Weld County and as (Hepntyc)
County Treasurer,in executing this deed,for and in consideration of the sum of .IXY.o..hundied.Tif.ty-nine
DOLLARS and no CENTS,paid as aforesaid,and by virtue of the statutes in such case made and
provided,by these presents does grant,bargain and sell the following described real estate, to-wit:
Lots 7, 10, 11, 14, 15, 17, 19, 20, 25 to 31 end 48, Block 21, Gilerest:
Lots 17 and 18, Block 5, Grover
except reservations in favor of the Union Pacific Railroad Company and except reservations in the United States
patent and reserving existing reservoir sites and existing rights of way for roads and irrigation ditches and subject
to existing leases; and reserving therefrom, to grantor, the oil,gas or other minerals therein.
situate, lying and being in the County of Weld,State of Colorado, unto the said .B...it Fereh
(horlxhis heirs and assigns,without any covenants of warranty whatsoever and subject to all the rights of redemption
by minors,insane persons or idiots as provided by law.
This deed is made pursuant to resolution of the Board of County Commissioners.of Weld County, Colorado,
duly made and entered of record in its proceedings the ....25th day of ApriL A.D., 19..44,
appointing Hamad H. Seaman Commissioner aforesaid,to execute this deed in behalf of Weld County,
and to affix the seal of Weld County, Colorado, conveying said real estate to second party hereto.
IN WITNESS WHEREOF, I, _.Harold_1L..BOW= , Commissioner appointed to execute this
deed,on behalf of said County and by virtue of the authority contained in the order made by said Board of County
e 0;f,;,;• Commissioners on the 25th day of April ,19._44 have
hereunto set my hand and affixed the seal of said County this 10th day of
Nay 1944., for he uses and/rposes therein set forth.
' p* GIOUNTY �
S>,AL LfQt-/ � 2(SEAL)
Its Commissioner to execute this deed and'
as itlibetidgil County Treasurer'of Weld County,
STATE O u' MbhAPD9;l
Cout$tV or Waco
!� ss.,
Therforegoing instrumentUwas acknowledged before me this_.._ISt day of June ,A.D.19 44
by ,Commissioner appointed to execute this deed.
l� �• WITNESS my Hand nd Official Seal
k H
' Clerk H str et ou rNnirrx7xRUDtic.
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LR4443486 I Search
•`',6'' Property Profile
I t., r ' --- 4
/` I Account:R4443486 __ A� Lo. r, ,
---'o .. January 14,2015 • ,..9:017-
Account I Owner(s) I Document History I Building(s) I Valuation Detail I Tax Authorities I Photo I Sketch I NOV I Print I
Account Parcel i Space Account Tvoe Tax Year I Tax Area Buildinas t Actual Vail Assessed Value
R4443486 105728118014 Exempt 2015 0170 0 0 0
Legal '
GIL 16774 L25 THRU 29 BLK21
I
Subdivision Block Lot Land Economic Ares
GILCREST TOWN 21 25 GILCREST RESIDENTIAL
Property Address Property City ` Zio Section Township 1 Range I
GILCREST 000000000 28 04 66
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IR4443486 I Search 1
Property Profile alusi
. Account:R4443486
c v T7t January 14,2015 l.l..._..
IAccount Owner(s) I Document History I Building(s) I Valuation Detail I Tax Authorities I Photo I Sketch I NOV I Print I
Account Parct<I Since /Gamut Tvoe Tax Year Tax Area Buildinus ActuatValucL, Assessed Ns
R4443486 105728118014 Exempt 2015 0170 0 0 0
Tvoe Code Descnoton ActualVaJ Assessed Valupf Acres Land Saf`
Land 9150 EXEMPT/RELIGIOUS RESIDENTIAL LAND 12,000 960 0.430 18,750
Type Code Description 12,000 960 0.4301 18,750
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LieLONETREEENERGY
S, ASSOCIATES, LLC
January 22,2015 Sent via Certified Mail
Receipt No. 7014 0150 0000 6243 3965
Weld County Colorado
c/o Board of County Commissioners
1150 O Street
P.O. Box 758
Greeley,CO 80632
RE: Oil and Gas Lease Bonus Consideration
Howard Lake Prospect:
• HOW-1192,427-49
• HOW-1193, 427-50
• HOW-1194,427-51
• HOW-I195, 427-52
• HOW-1196, 427-53
• HOW-1197,427-54
• HOW-1198, 427-55
• HOW-I 199, 427-56
Township 4 North, Range 66 West,6th P.M.
Section 28: Lots 14, 25-30, Block 21, Townsite of Gilcrest
Dear Board of Commissioners,
Enclosed please find check No. 92084 in the amount of$825.60 from LoneTree Energy & Associates, LLC as
Agent for PDC Energy, Inc. Let this serve as the full bonus consideration for the 8 above described Oil and
Gas Leases covering the captioned lands.
The enclosed lease documents will need to be executed, recorded, and returned to us in exchange for the
full bonus consideration you are receiving.
Please acknowledge receipt of this check by signing and dating this letter below and retuming it in the
enclosed self-addressed envelope, which is enclosed for your convenience. If you have any questions regarding
this matter, please feel free to contact Stevie Frey at(303)233-8700 ext. 106.
Re s,)
RECEIVED
ittle-
LoneTree Energy&Associates, LLC
Agent for PDC Energy, Inc. JAN 2 3 2015
/ms WELD COUNTY
Enclosures COMMISSIONERS
Received LTE Check#92084 from LoneTree Energy& Associates, LLC, in the amount of$825.60 on this
_Ay4 _day of iil n,1QJ"j 2015.
LESSOR: J
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
By: kKaJ dei COnal
Deputy Clerk to the Board
3 WEST DRY CREEK CIRCLE • LIITLETON, CO 80 I 20
T (303) 233-8700 • F (303) 233-8787
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*PLEASE KEEP AND SCAN IN TYLER*
Notes for Rafaela
Please send the Leases to Recording
When the Oil and Gas Lease comes back from Recording, please be
sure to mail all eight (8) leases back to the address below.
Stevie Frey
Lone Tree Energy
3 West Dry Creek Circle
Littleton, CO 80120
Please include the following in the mailing:
*Original Recorded Leases (8 Total)
Thanks!
Karla
Date sent to Recording a -ao aoic
Date iled out a- a7-ao15
By ' fl43noSA QQAA9,-k► nn�
99)5-Q5x10
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