State Land Board previews geothermal RFP, oil-and-gas auction receipts and a restored stream project

Deputy Director Nick Massie and Director Rose Marino briefed commissioners on recent land-management and revenue developments, including a geothermal procurement, recent lease revenue, and a community-driven restoration project.

Geothermal procurement: Staff said they are preparing an RFP/IFB aimed at 11 carefully vetted parcels and are coordinating with the attorney general’s office, Colorado Parks and Wildlife and counties; an IFB issuance was targeted for late June. Commissioners emphasized that the plan should remain flexible to emerging technologies (geothermal, new renewables) without listing a prescriptive inventory of future technologies.

Lease auction and revenue: The board’s April oil-and-gas lease auction generated nearly $750,000, higher than several recent comparable auctions, despite a number of parcels carrying no-surface-occupancy stipulations intended to protect sensitive resources. Deputy Director Massie noted short-term revenue dynamics driven by oil-price shocks and explained that royalty collections lag market prices by roughly three months; the board’s permanent fund balance was described as approximately $2 billion.

Shadow Mountain pivot and conservation surveys: Staff described the Shadow Mountain case in Jefferson County, where a previously proposed recreation/bike-park was rejected by the county and community; staff said they are working with local partners to advance a biodiversity and stream restoration project in its place. Staff also highlighted temporary access permits issued to Colorado Natural Heritage Program, CSU and Denver Botanic Gardens for species and rare-plant surveys, presenting them as examples of aligning revenue duties with conservation information gathering.

Why it matters: The initiatives illustrate how the board balances revenue generation with stewardship responsibilities. Commissioners and staff said signaling openness to innovation (e.g., renewable energy) may help the trust diversify revenue but stressed legal and community constraints require careful vetting.

Next steps: Staff will finalize the geothermal IFB timing and return to the board with procurement details; they will continue outreach on the Shadow Mountain restoration and report back on permitting and community partnerships.

Attribution: Financial and project updates were provided by Deputy Director Nick Massie and Director Rose Marino during the board workshop.