Server Time (CDT): Mar. 28, 2:14:24p

Leasing Unit No. 59

Juab County, Utah
Utah SITLA - Geothermal Energy, October 27, 2017

Sealed Bid

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit No. 59

Gross Acres:

640.00

Net Acres:

640.00

Time Remaining:

Auction has ended

Start Time:

10/12/2017 5:00 PM MDT / 6:00 PM CDT

End Time:

10/27/2017 5:00 PM MDT / 6:00 PM CDT

Minimum Bid:

$6 per acre

Total Lease Cost at Minimum Bid:

$3,946.80
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Utah Leasing Unit No. 59

County, State

Juab, UT

Legal Description

T13S, R7W, SLB&M
Sec. 29: Part of Tract 39 [Part of S½S½]
Sec. 30: Part of Tract 39 [Part of SE¼SE¼]
Sec. 31: Part of Tract 39 [Within E½E½]
Sec. 32: Part of Tract 39 [All, Less Lots]

Gross Acres

640.00

Net Acres

640.00

Royalty

electricity-2.25% yr 1-5. 3.5% yr 6-on. Use/sale-10%.

Lease Term

10 Years

Application Fee

$30.00

Additional Information

TERMS AND CONDITIONS

All bidding and lease sales on SITLA properties listed on this website shall be subject to the statutes, administrative rules, and other laws of the State of Utah, including but not limited to the Utah Government Records Access and Management Act, UTAH CODE §63G-2-101, et. seq.

The Applicant offers minimum of $500.00 per lease unit, regardless of acreage, or $6 per acre and for each fractional part of an acre (fractional acre is rounded up to one full acre) whichever is greater, which includes the first years annual rental of $1.00 per acre and the first years advanced minimum royalty of $5.00 per acre (fractional acre is rounded up to one full acre). Click here to view lease form.

Failure of funds or failure to execute a lease within 30 days of receipt shall constitute a forfeiture of the bonus bid and termination of the lease agreement.

SUCCESSFUL BIDDER NOTIFICATION

When the bids are accepted by SITLA, the successful bidder will be notified via email with closing instructions, including total amount due.

Payment must be made within two business days.

BUYER PREMIUM

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


CONTACT INFORMATION


SITLA

Jerry Mansfield
Trust Lands Mineral Resource Specialist
(801) 538-5153
Email: jmansfield@utah.gov

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