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Auction has ended
9/12/2017 8:30 AM MDT / 9:30 AM CDT
9/19/2017 8:30 AM MDT / 9:30 AM CDT
Total Lease Cost at Minimum Bid:
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Sec. 14: N2
Sec. 14: N2
Rental/Acre (Per Year)
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 years 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 Buyers 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.
Completions from the last 365 days in Lea County, New Mexico
Drilling Permits from the last 365 days in Lea County, New Mexico
Drilling Rigs on location in Lea County, New Mexico
SUCCESSFUL BIDDER NOTIFICATION
After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.
A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.
Stephen L. Wust, Ph.D.
Oil, Gas and Minerals Division