Resource Extraction

The State Land Board Resource Extraction group manages the exploration and development of coal, oil and gas, and other solid minerals.  It oversees and evaluates nonrenewable resources, manages all mineral leases, administers quarterly oil and gas lease sales, processes mineral royalty revenue and ensures that the State is compensated for its resources.

Pumpjack, Lowry Range
Pumpjack, Lowry Range


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The Royalty Accounting Unit of the Minerals
Section processes mineral royalty
revenue and executes related audit and
compliance programs.  The Leasing Unit is
responsible for leasing and developing the
State's land holdings for energy and mineral
development.

The proceeds from these mineral activities
are deposited into the state's permanent
school fund, created to help finance public
primary education.  The dividends and
interest from permanent school fund
investments go into the available school
fund, and from there money is distributed
through the School Finance Act to school
districts on a per pupil basis.  For the fiscal
year 2011, the State Land Board's mineral
revenues were $108 million.  

Contact Us:
Pete Milonas
Resource Extraction Director
303-866-3454 x3324
pete.milonas@state.co.us

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