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009 VC-009

Lea County, NM
New Mexico State Land Office Sealed Bid Lease Sale

SOLD

Registration Status:

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Your Bid Status:

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Tract:

009 VC-009

Gross Acres:

320.00

Net Acres:

320.00

Time Remaining:

Auction has ended

Start Time:

9/12/2017 8:30 AM MDT / 9:30 AM CDT

End Time:

9/19/2017 8:30 AM MDT / 9:30 AM CDT

Minimum Bid:

$10,000

Total Lease Cost at Minimum Bid:

$10,293.60
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

009 VC-009

County, State

Lea, NM

Description

T18S, R35E
Sec. 14: N2

Net Acres

320.00

Gross Acres

320.00

Rental/Acre (Per Year)

$1.00

Royalty

1/5th

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 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.

OFFSET ACTIVITY

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

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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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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

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

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