Server Time (CDT): Mar. 28, 8:15:02a

Leasing Unit 4

Sevier County, UT
Utah SITLA - Oil, Natural Gas, and Associated Hydrocarbons Lease Sale, January 20, 2023

AUCTION CANCELLED

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit 4

Gross Acres:

280.00

Net Acres:

280.00

Time Remaining:

Auction has ended

Start Time:

1/6/2023 9:00 AM MST / 10:00 AM CST

End Time:

1/20/2023 5:00 PM MST / 6:00 PM CST

Minimum Bid:

$2 per acre

Total Lease Cost at Minimum Bid:

$601.20
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit 4

County, State

Sevier, UT

Legal Description

T.22S, R.2W, SLB&M
Sec 34: S2S2
Sec 35: S2SW4SW4, PART OF SW4SE4 [METES & BOUNDS]
Sec 35: SW4NE4
T.23S, R.2W, SLB&M
Sec 2: PART OF LOT 2, N2NW4NW4 [LOT AKA PART OF NW4NE4] [METES & BOUNDS]

Gross Acres

280.00

Net Acres

280.00

Royalty

16.67%

Lease Term

5 Years

Application Fee

$30.00

Special Stipulation

Partial or No Surface

Metes & Bounds

Following Metes & Bounds are for both parcels located in T23S, R2W, Sec. 2 and T22S, R2W, Sec. 35: Commencing at a point 10 chains North and 4.26 chains West of the SE corner of the NW4 of the NE4 of Section 2, Township 23 South, Range 2 West, Salt Lake Meridian; thence West 15.74 chains; thence North on 40 line 26.80 chains to the North side of lane; thence South 55 degrees East along the North side of lane to the intersection of the 40 line; thence South on 40 line 6 chains, more or less to the D. & R.G. Railway right of way; thence South 28 degrees 46 minutes West to the place of beginning, containing 40 acres, more or less.

Acreage in Section 2: 19.60 acres and Section 35: 20.40 acres.

Special Stipulation

PARTIAL OR NO SITLA SURFACE OWNERSHIP

LEASING UNIT CONTAINS PARTIAL OR NO SITLA SURFACE OWNERSHIP.

Lease Terms and Conditions

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 ยง63G-2-101, et. seq.

The Applicant offers minimum $2.00 per acre and for each fractional part of an acre (fractional acre is rounded up to one full acre), which includes the first years annual rental, unless otherwise noted. Horizontal Pugh Clause included in lease. Click here to view lease form.

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.

Utah School and Institutional Trust Land Administration Point of Contact

Lease Manager
Dorothy Taylor

Email
dataylor@utah.gov

Office
(801) 538-5161

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.

Payment must be made within two business days.

Buyer Premium

A 2% Buyer Premium, calculated as 2% of the total bid amount, will be added to the cost of this lease.

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488