001 VC-001
Eddy County, NM
New Mexico State Land Office Oil & Gas Sealed Bid Lease Sale, April 16, 2024
SOLD
SOLD
Registration Status:
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Your Bid Status:
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Tract:
001 VC-001
Gross Acres:
320.00
Net Acres:
320.00
Time Remaining:
Auction has ended
Start Time:
4/9/2024 8:30 AM MDT / 9:30 AM CDT
End Time:
4/16/2024 8:30 AM MDT / 9:30 AM CDT
Minimum Bid:
$26,000
Total Tract Cost at Minimum Bid:
$26,940
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T16S, R30E
Sec. 36: N2
Tract Details
Tract No.
001 VC-001
County, State
Eddy, NM
Description
T16S, R30E
Sec. 36: N2
Net Acres
320.00
Gross Acres
320.00
Rental/Acre (Per Year)
$1.00
First Year's Rental
$320.00
Royalty
1/5 th
Lease Term
5 Years
Restriction
See RESTRICTIONS for more details on Restriction(s): (E)
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 BY CASH, CHECK, MONEY ORDER, CERTIFIED CHECK, OR ELECTRONIC TRANSFER ON A SOLVENT BANK. 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.
Disclaimer
This tract was formerly part of a now-terminated unit. The former unit operator continues to operate one or more wells on this acreage in trespass, and is the subject of pending legal action from the State Land Office.
Interested parties may contact the State Land Office for additional information.
Restrictions
E: SUBJECT TO 3/2012 CONSERVATION AGREEMENT
Existing Well(s) Notice
Existing well(s) are located on this tract. Details may be found on the New Mexico Oil Conservation Division website:
Seller Acquisition Agreement(s)
The New Mexico State Land Office forms associated with Oil and Gas leasing may be found at https://www.nmstatelands.org/divisions/oil-gas-and-minerals/oil-and-gas-forms/.
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.
Payment to the New Mexico State Land Office must be made before close of business (mountain time) on the day of the sale.
A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.
Contacts
New Mexico SLO
Allison Marks, Division Director
Email amarks@slo.state.nm.us
EnergyNet
Government Resources
Email government@energynet.com
Phone (877) 351-4488