AUCTION CANCELLED
Registration Status:
Please log in as a buyer to view registration status.
Your Bid Status:
Please log in as a buyer in order to bid.
Tract:
024 VC-024
Gross Acres:
40.00
Net Acres:
40.00
Time Remaining:
Auction has ended
Start Time:
11/10/2020 8:30 AM MST / 9:30 AM CST
End Time:
11/17/2020 8:30 AM MST / 9:30 AM CST
Minimum Bid:
$100,000
Total Tract Cost at Minimum Bid:
$102,200
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T20S, R33E
Sec. 27: SE4SE4
Tract Details
Tract No.
024 VC-024
County, State
Lea, NM
Description
T20S, R33E
Sec. 27: SE4SE4
Net Acres
40.00
Gross Acres
40.00
Rental/Acre (Per Year)
$1.00
First Year's Rental
$100.00
Royalty
20%
Lease Term
Five Years
Restriction
B: DRILLING RESTRICTED DUE TO POTASH
Application Fee
$100.00
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 for all bonus, rentals and application fees. 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.
Successful Bidder Notification
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.
Buyer Premium
A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.
New Mexico State Land Office Point of Contact
EnergyNet Point of Contact