The first leasing of California Indian-owned land for oil and gas development in about a decade was announced today by the Department of the Interior.
On January 18, bids were opened at the Sacramento area office of the Bureau of Indian Affairs for the oil 8nd gas leasing of two tracts of tribally owned land which comprise the entire acreage of the Colusa Indian Reservation in Colusa County. One tract is 214.5 acres, the other 54.53 acres.
The high bid on the larger tract was a bonus of $2,944.56 or $13.75 per acre offered by G. E. Kadane and Sons. On the smaller tract the high bidder was Gulf Oil Corporation of California with a bonus offering of $1,988.36 or $36.46 per acre. Both of these bids have been accepted.
Offering of the lands for oil and gas leasing was approved by the Colusa Indian Community Council in a resolution adopted December 5, 1960.
In keeping with the usual practice on oil and gas leasing of Indian lands, the tribal organization will receive, in addition to the bonus money, annual rentals of $1.25 per acre on the leased land and royalties of 12.5 percent on production.
The only previous leasing of California Indian lands for oil and gas development took place about 10 years ago and involved acreage on the Agua Caliente Reservation at Palm Springs.
