John Colson:
"SILT, Colorado — The town's Board of Trustees meets tonight at Town Hall to debate whether to renew more than 75 “net mineral acres” in natural-gas leases to the Antero Resources drilling company.
Town administrator Pamela Woods said the three-year agreement will bring in “about $180,000 a year” to the town's coffers.
The lease, which expired on April 29, gave Antero the right to drill for natural gas deposits deep underground in several areas within the town.
A map of the lease areas is available from Town Hall.
The measurement “net mineral acre,” according to a memo from town attorney Lee Leavenworth, is used when rights are owned by more than one party.
Leavenworth wrote that, for example, if the lessor owns 100 percent of the minerals underlying one acre, that equals one net mineral acre.
But if only 50 percent of the minerals underlying one acre are owned by the lessor, that constitutes half of a net mineral acre.
Leavenworth's memo did not contain any breakdown of the town's mineral rights ownership.
According to Leavenworth, the town first signed a lease with Antero in 2005, for a period of three years...."
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