Leasing Unit No. 55

Summit County, UT
Utah Over the Counter Lease Sale

SOLD

Property Schedule

Due Diligence Began 11/22/2016
Bidding Started 11/22/2016
Bidding Ended 12/1/2016 10:16 AM
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Leasing Unit No. 55
160.00
160.00
Auction has ended
11/22/2016 9:16 AM MST / 10:16 AM CST
12/1/2016 9:16 AM MST / 10:16 AM CST
-
$2/acre
$2/acre
$0.50
$356.40
(Bonus + Agency Fees + Buyer Premium)
T1N, R7E, SLB&M
Sec. 34: W½SW¼, SE¼SW¼, SW¼SE¼
Lease Details
Lease Name
Leasing Unit No. 55
County, State
Summit, UT
Legal Description
T1N, R7E, SLB&M
Sec. 34: W½SW¼, SE¼SW¼, SW¼SE¼
Gross Acres
160.00
Net Acres
160.00
Royalty
16.67%
Lease Term
5 Years
Application Fee
$30.00
Additional Information
All bidding and lease sales on SITLA properties listed on this website shall be subject to the statutes, administrative rules, and other laws of the State of Utah, including but not limited to the Utah Government Records Access and Management Act, UTAH CODE §63G-2-101, et. seq.
Purchase price includes the lease bonus and 1st year rental. Buyer will be responsible for paying rental payment for years 2 through 5.
Failure of funds or failure to execute a lease within 30 days of receipt shall constitute a forfeiture of the bonus bid and termination of the lease agreement.
Successful Bidder Notification
When the bids are accepted by SITLA, the successful bidder will be notified via email with closing instructions, including total amount due.
GIS Data
GIS data in the form of a shapefile is available for this lease sale. Click here to download.
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Contact Information
SITLA
Ed Bonner
Trust Lands Mineral Resource Specialist
(801) 538-5151

Lisa Wells
Senior Research Analyst
(801) 538-5154

Aly Hale
Lease Analyst
(801) 538-5159
EnergyNet
John S. Munroe
VP of Engineering / Government Lease Sales
(832) 403-3122

Gus Rivero
Manager of Government Lease Sales
(806) 463-3616

Brandon Savage
Asst Manager of Government Lease Sales
(806) 463-3621
Bid History (Top 10)

Bidder

Placed

Amount

Bidder #8

11/30/2016 11:22:53 PM

$2