001 VC-001
SOLD
Sec. 31: LOT(S) 1, 2, 3, 4, E2W2
Tract Details
Sec. 31: LOT(S) 1, 2, 3, 4, E2W2
Lease Terms and Conditions
All bidding and lease sales on NMSLO properties listed on this website shall be subject to the statutes, administrative rules, and other laws of the State of New Mexico, including but not limited to New Mexico Law 1929, Chapter 125, Section B, as amended, and rules and regulations of the State Land Office.
The minimum initial charge for any lease shall be one hundred dollars ($100.00) or the minimum rental rate, whichever is greater, plus the application fee as set forth in the schedule of fees. Minimum rental rate is computed by multiplying the rental rate by the acreage in each advertised tract, as per 19.2.100.15 NMAC.
PAYMENT FOR ALL WINNING ONLINE LEASES SHALL BE MADE THE DAY OF THE SALE BY WIRE TRANSFER OR IN-PERSON AT THE NEW MEXICO STATE LAND OFFICE BY CASH, CHECK, MONEY ORDER, CERTIFIED CHECK, OR ELECTRONIC TRANSFER ON A SOLVENT BANK. LATE PAYMENTS WILL BE REJECTED AND NO LEASE WILL BE ISSUED FOR THAT TRACT.
The Buyer's Premium will be paid separately to EnergyNet also by wire transfer payment. The successful bidder will be provided by email from EnergyNet, complete wire transfer payment and closing instructions, including invoices for all funds due at the close of the sale.
Seller Acquisition Agreement(s)
The New Mexico State Land Office forms associated with Oil and Gas leasing may be found at https://www.nmstatelands.org/divisions/oil-gas-and-minerals/oil-and-gas-forms/.
Successful Bidder Notification and Buyer Premium
After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment to the New Mexico State Land Office must be made before close of business (mountain time) on the day of the sale.
A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.