Server Time (CDT): Apr. 22, 4:32:07a

NM-2023-11-6807

Lea County, NM
BLM New Mexico and Oklahoma Federal Oil & Gas Lease Sale, November 30, 2023

SOLD

Property Schedule

Due Diligence Began 8/14/2023
Bidding Started 11/30/2023
Bidding Ended 11/30/2023 11:10 AM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Parcel:

NM-2023-11-6807

Acres:

40.00

Time Remaining:

Auction has ended

Start Time:

11/30/2023 8:10 AM MST / 9:10 AM CST

End Time:

11/30/2023 10:10 AM MST / 11:10 AM CST

Your Bid:

-

Highest Bid:

$118/acre

Starting Bid:

$10/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$5,105.80
(Bonus + Agency Fees + Advanced Rental + 1.5% Buyer Premium)

Legal Description:

Parcel Details

Parcel

NM-2023-11-6807

County, State

Lea, NM

Legal Description

Updated 11/30/2023
See Amendment No. 2
T. 24 S., R. 36 E., NEW MEXICO PRINCIPAL,
Sec. 11 NWNW;

Acres

40.00

Rental (1st Year)

$120.00

Royalty

16.67%

Administrative Fee

$195.00

Expression of Interest

NM00018628

Serial Number

NMNM106309058

Lease Terms and Conditions

All bidding 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 $3 per acre for the first 2 years, $5 per acre for years 3 through 8, and $15 per acre thereafter is due on or before the anniversary date each year until production begins. Once a lease is producing, you must pay a royalty of 16.75 percent of the value or the amount of production removed or sold from the lease. Other lease terms may be located on the standard lease form (Form 3100-011, March 2023).

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:

  • SENM-S-22-CSU Lesser Prairie-Chickens:
  • HQ-CR-1 Cultural Resource Protection:
  • HQ-MLA-1 Notice to Lessee Concerning Mineral Leasing Act Section 2(a)(2)(A):
  • HQ-TES-1 Threatened and Endangered Species Act:
  • NM-11-LN Special Cultural Resource

Successful Bidder Notification and Buyer Premium

After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.

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

On the day of the sale, you must:

  • Pay at least the minimum bonus bid of $10 per acre or fraction of an acre; the first year's advance rental of $3 per acre or fraction of an acre; and a non-refundable administrative fee of $195, to the BLM State Office by the close of business; and
  • Complete the Form 3000-02, (March 2023) and forward to the BLM State Office by the close of business

Contacts

BLM New Mexico State Office
JulieAnn Serrano, Supervisory Land Law Examiner
Email jserrano@blm.gov


EnergyNet Government Resources
Email government@energynet.com
Office (877) 351-4488

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #868

11/30/2023 11:10 AM

$118

Bidder #324

11/30/2023 11:09:58 AM

$117