NM-2020-10-0357

Lea County, NM
BLM New Mexico Federal Lease Sale, October 29, 2020

SOLD

Property Schedule

Due Diligence Began 9/7/2020
Bidding Started 10/29/2020
Bidding Ended 10/29/2020 11:18 AM
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NM-2020-10-0357
160.00
Auction has ended
10/29/2020 8:18 AM MDT / 9:18 AM CDT
10/29/2020 10:18 AM MDT / 11:18 AM CDT
-
$11,353/acre
$2/acre
$1
$1,844,137.20
(Bonus + Agency Fees + Advanced Rental + 1.5% Buyer Premium)
Parcel Details
Parcel
NMNM 142227
NM-2020-10-0357
County, State
Lea, NM
Legal Description
T. 21 S., R.32 E., NEW MEXICO PM
Sec. 28 SW.
Acres
160.00
Rental (1st Year)
$240.00
Royalty
12.50%
Administrative Fee
$170.00
Expression of Interest
NM00016256
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. Advance rental at $1.50 per acre for the first 5 years ($2 per acre after that) is due on or before the anniversary date each year until production begins. Once a lease is producing, you must pay a royalty of 12.5 percent of the value or the amount of production removed or sold from the lease. You will find other lease terms on our standard lease form (Form 3100-11, October 2008).

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:

  • WO-ESA 7 BLM Stipulation for WO - Endangered Species Act Sec 7 Consultation
  • WO-NHPA BLM Stipulation for Cultural Resources and Tribal Consultation
  • NM-13-CSU BLM Stipulation CSU for NMSO - CSU - Paleontological Resources
  • SENM-S-1-CSU BLM Stipulation CSU for PDO - CSU - Potash Area Stipulation
  • SENM-S-22-CSU BLM Stipulation CSU for PDO - CSU - Lesser Prairie-Chickens
  • SENM-S-34-CSU BLM Stipulation CSU for PDO - CSU - Shinnery Oak Sand Dune Habitat Complex POD
  • NM-11-LN BLM Lease Notice LN for NMSO - LN - Special Cultural Resource
  • NM-14-LN BLM Lease Notice LN for NMSO - LN - Paleontological Resources
  • SENM-LN-6 BLM Lease Notice LN for PDO - LN - OG Development Within Designated Potash Area
Successful Bidder Notification

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 $2 per acre or fraction of an acre; the first year's advance rental of $1.50 per acre or fraction of an acre; and a non-refundable administrative fee of $170, to the BLM State Office by the close of business.

Buyer Premium

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

BLM New Mexico Contact Information
EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #9

10/29/2020 11:17:33 AM

$11,353

Bidder #29

10/29/2020 11:17:55 AM

$11,352

Bidder #9

10/29/2020 11:17:33 AM

$10,321

Bidder #29

10/29/2020 11:17:30 AM

$10,320

Bidder #21

10/29/2020 11:16:28 AM

$5,250

Bidder #32

10/29/2020 11:14:25 AM

$4,250

Bidder #21

10/29/2020 11:11:30 AM

$4,000

Bidder #32

10/29/2020 11:13:54 AM

$3,500

Bidder #21

10/29/2020 11:11:30 AM

$3,101

Bidder #20

10/29/2020 11:13:18 AM

$3,100

View 24 earlier bids...

1