Server Time (CDT): Mar. 28, 4:47:47a

016 VB-014

Lea County, NM
New Mexico State Land Office Lease Sale

SOLD

Property Schedule

Due Diligence Began 1/1/2001
Bidding Started 9/13/2016
Bidding Ended 9/20/2016 9:18 AM

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

016 VB-014

Gross Acres:

80.00

Net Acres:

80.00

Time Remaining:

Auction has ended

Start Time:

9/13/2016 8:18 AM MDT / 9:18 AM CDT

End Time:

9/20/2016 8:18 AM MDT / 9:18 AM CDT

Your Bid:

-

Highest Bid:

$32,100

Starting Bid:

$3,000

Bid Increment:

$50

Total Cost at Highest Bid:

$32,840.40
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

016 VB-014

County, State

Lea, NM

Description

T26S, R36E
Sec. 2: NW4NE4, NE4NW4

Net Acres

80.00

Gross Acres

80.00

Rental/Acre (Per Year)

$1.00

Royalty

3/16th

Lease Term

5 Years

Application Fee

$100.00

Additional Information

LEASE TERMS AND CONDITIONS

All bidding and lease sales on NLSLA 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

Purchase price includes the lease bonus and 1st year rental: Your bid on a 320 acre tract may be $10,000; if the rental rate on that tract is $1/acre, SLO will apply $320 of your $10,000 to the first year’s rental.

PAYMENT SHALL BE MADE BY WIRE TRANSER PAYMENT WITHIN 48 HOURS OF THE CLOSE OF THE SALE DIRECTLY TO THE NEW MEXICO STATE TREASURER/COMMISSIONER OF PUBLIC LANDS for all bonus, rentals and application fees. 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.

Click here to view a sample Lease Form

GIS DATA

GIS data in the form of a shapefile is available for this lease sale. Click here to download.

Please be advised that the information contained herein is for REFERENCE USE ONLY and is not suitable for legal, engineering, or surveying purposes. Neither the New Mexico State Land Office nor EnergyNet.com shall be liable for any direct, indirect or consequential damages to any party arising out of or in connection with the use of data contained herein.

OFFSET ACTIVITY

Drilling Permits from the last 180 days in Lea County, New Mexico

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Drilling Rig on Location in Lea County, New Mexico

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Completions from the last 365 days in Lea County, New Mexico

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SUCCESSFUL BIDDER NOTIFICATION

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

BUYER PREMIUM

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


CONTACT INFORMATION


NMSLO

Stephen L. Wust, Ph.D.
Chief Geologist
Oil, Gas and Minerals Division
(505) 827-5774
Email: swust@slo.state.nm.us

EnergyNet

John S. Munroe
VP of Engineering / Government Lease Sales
(832) 403-3122
Email: John.Munroe@energynet.com

Gus Rivero
Manager of Government Lease Sales
(806) 463-3616
Email: Gus.Rivero@energynet.com

Brandon Savage
Asst Manager of Government Lease Sales
(806) 463-3621
Email: Brandon.Savage@energynet.com


Bid History (Top 10)

Bidder

Placed

Amount

Bidder #28

9/20/2016 9:17:40 AM

$32,100

Bidder #9

9/20/2016 8:41:58 AM

$32,050

Bidder #28

9/20/2016 9:17:19 AM

$25,000

Bidder #9

9/20/2016 8:41:58 AM

$17,050

Bidder #28

9/20/2016 9:16:50 AM

$17,000

Bidder #9

9/20/2016 8:41:58 AM

$15,050

Bidder #2

9/20/2016 4:18:25 AM

$15,000

Bidder #28

9/19/2016 5:14:38 PM

$10,500

Bidder #15

9/19/2016 5:00:34 PM

$9,700

Bidder #28

9/19/2016 5:13:57 PM

$9,100


View 11 earlier bids...