Sealed Bid
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit No. 63
Gross Acres:
40.00
Net Acres:
40.00
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:
$12.50 per acre
Total Lease Cost at Minimum Bid:
$540
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T36S, R15W, SLB&M
Sec. 27: SE¼SE¼
Lease Details
Lease Name
Utah Leasing Unit No. 63
County, State
Iron, UT
Legal Description
T36S, R15W, SLB&M
Sec. 27: SE¼SE¼
Gross Acres
40.00
Net Acres
40.00
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