SOLD
Registration Status:
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Your Bid Status:
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Tract:
023 VC-O-005
Gross Acres:
160.00
Net Acres:
160.00
Time Remaining:
Auction has ended
Start Time:
11/14/2017 10:38 AM MST / 11:38 AM CST
End Time:
11/21/2017 10:38 AM MST / 11:38 AM CST
Your Bid:
-
Highest Bid:
$325,050
Starting Bid:
$5,000
Bid Increment:
$50
Total Cost at Highest Bid:
$331,647.80
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T17S, R36£
Sec. 9: SE4
Tract Details
Tract No.
023 VC-O-005
County, State
Lea, NM
Description
T17S, R36£
Sec. 9: SE4
Net Acres
160.00
Gross Acres
160.00
Rental/Acre (Per Year)
$1.00
Royalty
1/5th
Lease Term
5 Years
Restriction
D: All or portion of surface non-state
Application Fee
$100.00
Additional Information
LEASE TERMS AND CONDITIONS
All bidding and lease sales on NLSLA 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.
Purchase price includes the lease bonus and 1st year rental: Your bid on a 320 acre tract may be $10,000; if the rental rate on that tract is $1/acre, SLO will apply $320 of your $10,000 to the first yearâs rental.
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 for all bonus, rentals and application fees. LATE PAYMENTS WILL BE REJECTED AND NO LEASE WILL BE ISSUED FOR THAT TRACT.
The Buyerâs 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.
OFFSET ACTIVITY
Completions from the last 365 days in Lea County, New Mexico
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Drilling Rigs on location in Lea County, New Mexico
SUCCESSFUL BIDDER NOTIFICATION
After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.
BUYER PREMIUM
A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.
CONTACT INFORMATION
NMSLO
Stephen L. Wust, Ph.D.
Chief Geologist
Oil, Gas and Minerals Division
(505) 827-5774
Email: swust@slo.state.nm.us
EnergyNet
Gus Rivero
Manager of Government Lease Sales
(806) 463-3616
Email: Gus.Rivero@energynet.com
Brandon Savage
Assistant Manager of Government Lease Sales
(806) 463-3621
Email: Brandon.Savage@energynet.com
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #23
11/21/2017 11:32:41 AM
$325,050
Bidder #13
11/21/2017 11:33:48 AM
$325,000
Bidder #23
11/21/2017 11:32:41 AM
$250,050
Bidder #13
11/21/2017 10:40:52 AM
$250,000
Bidder #2
11/21/2017 11:11:31 AM
$170,700
Bidder #13
11/21/2017 10:40:52 AM
$169,650
Bidder #2
11/21/2017 10:21:30 AM
$169,600
Bidder #29
11/21/2017 10:05:08 AM
$5,000