Board accepts Mallalieu bid
The Lincoln County School Board accepted a bid Wednesday thatwill reopen the old Mallalieu Oil Field.
The school board had received two bids earlier this week on theproperty, but were unsure which was the best, so they sought legaladvice from three lawyers.
“I’m advised by legal council it would be to the benefit ofLincoln County to accept the Denbury Resources Inc. bid,” saidSuperintendent of Education Perry Miller.
The 320 acres located on the east half of Section 16, Township 6North, Range 8 East, was the sight of an active oil field manyyears ago but was closed when production slowed.
The school board looked at re-opening the field whenrepresentatives from Denbury Resources Inc., approached them a fewmonths ago about a new procedure to pump more oil from thearea.
The land was put up for bid on a lease for the exploration,mining, production and development of the oil, gas and minerals onthat property.
Miller said the procedure, which involves pumping oxygen intothe ground to bring up oil, will begin soon.
The next school board meeting will be held at 4:30 p.m., May 6at the central office on Monticello Street.