Leasing Unit 14
San Juan County, UT
Utah SITLA - Oil, Natural Gas, and Associated Hydrocarbons Lease Sale, July 21, 2023
AUCTION CANCELLED
AUCTION CANCELLED
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit 14
Gross Acres:
640.00
Net Acres:
640.00
Time Remaining:
Auction has ended
Start Time:
7/7/2023 9:00 AM MDT / 10:00 AM CDT
End Time:
7/21/2023 5:00 PM MDT / 6:00 PM CDT
Minimum Bid:
$2 per acre
Total Lease Cost at Minimum Bid:
$1,355.60
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T.28S R.23E, SLB&M
Sec. 16: All
Lease Details
Lease Name
Leasing Unit 14
County, State
San Juan, UT
Legal Description
T.28S R.23E, SLB&M
Sec. 16: All
Gross Acres
640.00
Net Acres
640.00
Royalty
16.67%
Lease Term
5 Years
Application Fee
$50.00
Notices
6.1 Lessee acknowledges that the Leased Premises are subject to that certain Conservation Agreement and Strategy for Cisco Milkvetch, Stage Station Milkvetch, and Isley's Milkvetch effective May 20, 2022 between SITLA, the United States Fish and Wildlife Service, and certain other agencies (the "Conservation Agreement") providing for the long term conservation of those species. Therefore, Lessee may not proceed with any surface activities on the Leased Premises prior to its compliance with the terms of the Conservation Agreement and SITLA's written approval thereof.
Special Stipulation
ARCHAEOLOGY AREA
LEASING UNIT CONTAINS OR IS ADJACENT TO ARCHAEOLOGICAL SITES WITH A FAIRLY HIGH PROBABILITY THAT ADDITIONAL SITES COULD EXIST.
MINIMUM BID AMOUNT
LEASING UNIT IS AT A MINIMUM BID OF $500.00 WITH A MINIMUM ANNUAL RENTAL OF $500.00 PER YEAR. REFER TO THE SCHOOL AND INSTITUTIONAL TRUST LANDS ADMINISTRATION RULES AND REGULATIONS (O&G R850-21-500-1B; MINERALS R850-25-300-1C).
PUGH CLAUSE
INCLUDED IN ALL OIL AND GAS LEASES: As to any acreage of the Leased Premises which is not within a producing area in accordance with UDOGM rules and regulations, including, without limitation R649-3-2 and R649-3-3, or any SITLA approved production or spacing unit, at the expiration of the primary term, this Lease will automatically terminate, expire, and be of no further force or effect insofar, and only insofar, as to any lands comprising the Leased Premises that are not within such producing area or included in one or more of the said SITLA approved pools or units (unless the lands are otherwise maintained by the provisions of this Lease). Upon request by Lessor, Lessee shall execute a release of this Lease as to such acreage released under this pugh clause.
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 §63G-2-101, et. seq.
The Applicant offers a minimum bid of $500.00 per leasing unit, regardless of acreage, or $2.00 per acre, whichever is greater, covering the first year's annual rental. Fractional acres are rounded up to one full acre. 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
Successful Bidder Notification and Buyer Premium
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.
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