Colo. hits record drilling royalties
DENVER, Colorado ” Colorado collected a record in natural gas drilling royalties last fiscal year.
The receipts from drilling on federal land hit $178.4 million for the fiscal year that ended Sept. 30. The haul puts Colorado third among 35 royalty-receiving states, behind Wyoming and New Mexico.
The record comes as production and energy prices both rose over the past year. Royalty payments go to schools, local governments and the water conservation board.
Royalties rose 45 percent from 2007. But officials say royalty payments this year will likely dip as natural gas prices drop.
Information from: Rocky Mountain News, http://www.rockymountainnews.com/