Server Time (CDT): May 16, 3:13:51a

MS-2024-03-0133

Smith County, MS
BLM Eastern States Federal Oil & Gas Lease Sale, March 26, 2024

SOLD

Property Schedule

Due Diligence Began 1/26/2024
Bidding Started 3/26/2024
Bidding Ended 3/26/2024 8:00 AM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Parcel:

MS-2024-03-0133

Acres:

2.70

Time Remaining:

Auction has ended

Start Time:

3/26/2024 8:00 AM EDT / 7:00 AM CDT

End Time:

3/26/2024 9:00 AM EDT / 8:00 AM CDT

Your Bid:

-

Highest Bid:

$10/acre

Starting Bid:

$10/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$234.45
(Bonus + Agency Fees + Advanced Rental + 1.5% Buyer Premium)

Legal Description:

Parcel Details

Parcel

MS-2024-03-0133

County, State

Smith, MS

Legal Description

Updated 02/28/2024
See Sale Notice Amendment No. 1
T. 3 N., R. 6 E., CHOCTAW,
Sec. 1 S2SW DESCRIBED AS METES AND BOUNDS;

Acres

2.70

Rental (1st Year)

$9.00

Royalty

16.67%

Administrative Fee

$195.00

Expression of Interest

ES00014059

Comments

16.670% Acquired Royalty Interest
Split Estate

Serial Number

MSES106347846

Lease Terms and Conditions

All bidding and lease sale on BLM parcels listed on this website shall be subject to the statutes, administrative rules and regulations of the BLM per the authority of the Mineral Leasing Act of 1920 as amended and the Mineral Leasing Act for Acquired Lands of 1947, as amended.

A lease issued as a result of this sale will have a primary term of 10 years. It will continue beyond its primary term as long as oil or gas in paying quantities is produced on or for the benefit of the lease. Rental at $3.00 per acre for the first 2 years, $5.00 per acre for years 3 thru 8, and $15.00 per acre thereafter is due on or before the anniversary date with the first year's rental paid to the BLM and subsequent payments paid to the Office of Natural Resources Revenue (ONRR) each year until production begins.

The royalty rate that applies to the lands offered in this lease sale is a fixed 16.67 percent. Once a lease is producing, you must pay a royalty of 16.67 percent (or as the lease is amended) of the value or the amount of production removed or sold from the lease. You will find other lease terms on the standard lease form. (Form 3100-011, March 2023).

Stipulations

Stipulations are part of the lease and supersede any inconsistent provisions of the lease form. Some parcels are subject to surface use stipulations. They are requirements or restrictions on how you conduct operations.

They become part of the lease and supersede any inconsistent provisions in the lease form. See Sale Notice for stipulation details.

THIS TRACT IS SUBJECT TO THE FOLLOWING LEASE STIPULATIONS:

  • HQ-CR-1 Cultural Resource Protection
  • HQ-MLA-1 Notice to Lessee Concerning Mineral Leasing Act Section 2(a)(2)(A)
  • HQ-TES-1 Threatened and Endangered Species Act
  • MS-CSU-6 Bald Eagle
  • MS-CSU-7 Sensitive Plant Species
  • MS-LN-10 Prime and Unique Farmlands
  • MS-LN-12 Cultural Resources and Tribal Consultation
  • MS-NSO-6 Red-Cockaded Woodpecker
  • MS-NSO-8 Bald Eagle
  • MS-NSO-9 Aquatic Habitats
  • MS-NSO-10 Louisiana Black Bear
  • MS-NSO-11 Piping Plover, Least Tern
  • MS-TL-1 Bald Eagle

Metes And Bounds

T3N, R6E, CHOCTAW, Sec. 1 S2SW DESCRIBED AS METES AND BOUND
Beginning at a wood stake, 1 X 2 X 16 inches, at the southeast corner of the southwest quarter of the southwest quarter of section one. Said POINT OF BEGINNNG is hereinafter referred to as "Corner No. 1". Thence, South 89 degrees 35 minutes West, on the line between sections 1 and 12, a distance of 4.00 chains, to Corner No. 2; Thence, North, a distance of 2.25 chains, to Corner No. 3; Thence, North 89 degrees 35 minutes East, a distance of 12.00 chains, to Corner No. 4; Thence, South, to the line between sections 1 and 12, a distance of 2.25 chains, to Corner No. 5; Thence, South 89 degrees 35 minutes West, on the section line, a distance of 8.00 chains, to Corner No. 1, the POINT OF BEGINNING containing 2.70 acres of land.

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.

On the day of the sale, you must pay at least the minimum bonus bid of $10 per acre or fraction of an acre; the first year's advance rental of $3 per acre or fraction of an acre; and a non-refundable administrative fee of $195, to the BLM State Office by the close of business.

A 1.5% Buyer Premium, calculated as 1.5% of the total bonus, will be added to the cost of this lease.

Contacts

BLM Eastern States State Office
Email sdahal@blm.gov
Office (703) 558-7754


EnergyNet Government Resources
Email government@energynet.com
Office (877) 351-4488

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #607

3/26/2024 7:12:11 AM

$10