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006 VB-006

Lea County, NM
New Mexico State Land Office Lease Sale

SOLD

Property Schedule

Due Diligence Began 11/8/2016
Bidding Started 11/8/2016
Bidding Ended 11/15/2016 9:16 AM

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

006 VB-006

Gross Acres:

320.00

Net Acres:

320.00

Time Remaining:

Auction has ended

Start Time:

11/8/2016 8:16 AM MST / 9:16 AM CST

End Time:

11/15/2016 8:16 AM MST / 9:16 AM CST

Your Bid:

-

Highest Bid:

$68,300

Starting Bid:

$10,000

Bid Increment:

$100

Total Cost at Highest Bid:

$69,762.80
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

006 VB-006

County, State

Lea, NM

Description

T15S, R32E
Sec. 23: N2

Net Acres

320.00

Gross Acres

320.00

Rental/Acre (Per Year)

$0.50

Royalty

3/16th

Lease Term

5 Years

Restriction

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 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 for all bonus, rentals and application fees. 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.

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 365 days in Lea County, New Mexico

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Drilling Rigs 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 #23

11/15/2016 8:45:04 AM

$68,300

Bidder #18

11/15/2016 9:15:25 AM

$68,200

Bidder #23

11/15/2016 8:45:04 AM

$48,100

Bidder #9

11/15/2016 9:08:38 AM

$48,000

Bidder #23

11/15/2016 8:45:04 AM

$16,600

Bidder #18

11/10/2016 11:04:45 AM

$16,500