Server Time (CDT): Mar. 28, 2:23:55p

Leasing Unit No. 40

Carbon County, UT
Utah SITLA - Oil, Gas & Associated Hydrocarbons, July 26, 2019

AUCTION CANCELLED

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit No. 40

Gross Acres:

1,021.75

Net Acres:

1,021.75

Time Remaining:

Auction has ended

Schedule Status:

Bids Due:
July 26th, 2019
6:00 PM CDT / 5:00 PM MDT

Minimum Bid:

$2 per acre

Total Lease Cost at Minimum Bid:

$2,114.88
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit No. 40

County, State

Carbon, UT

Legal Description

T13S, R9E, SLB&M
Sec. 23: E½SE¼
Sec. 24: N½SW¼, SW¼SW¼, Part of SE¼SW¼ [Metes & Bounds]
Sec. 25: Part of NE¼NW¼ [Metes & Bounds] NW¼NW¼, S½NW¼, SW¼
Sec. 26: E½E½
Sec. 36: NW¼, N½SW¼, SW¼SW¼, SW¼SE¼

Gross Acres

1,021.75

Net Acres

1,021.75

Royalty

16.67%

Lease Term

5 Years

Application Fee

$30.00

Special Stipulation

Partial SITLA Surface Ownership

Metes & Bounds

Beg at a point on the N boundary line of the SE quarter of the SW quarter of Sec. 24, which is 4031 ft. S and 2737 ft. W of the NE corner of Sec 24; thence S 19°15' W 219.7 ft.; thence S 30°23' W 371.5 ft; thence S 8°50' W 294.6 ft; thence S 1°13' E 619 ft; thence S 11°25' E 539 ft; thence S 11°7' E 454 ft; thence S 1°41' W 221 ft. to the S boundary line of the NE quarter of the NW quarter of Sec. 25; thence E 189 ft. m/l to the SE corner of the NE quarter of the NW quarter of said Sec. 25; thence N 2640 ft. m/l to the NE corner of the SE quarter of the SW quarter of said Sec. 24; thence W 97 ft. m/l to the pob. Being all the lands between the E boundary line and a line 25 ft W of the center line of a canal running through the SE quarter of the SW quarter of Sec. 24 and the NE quarter of the NW quarter of Sec. 25 in Township 13 South, Range 9 East of the Salt Lake Meridian.

Lease 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 a minimum bid of $500.00 per leasing unit or $2.00 per acre, whichever is greater, covering the first year's annual rental. Fractional acres are 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.

Special Stipulation

PARTIAL OR NO SITLA SURFACE OWNERSHIP

LEASING UNIT CONTAINS PARTIAL OR NO SITLA SURFACE OWNERSHIP.

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.

Utah School and Institutional Trust Land Administration Points of Contact

Research Analyst
Aly Gold

Email
agold@utah.gov

Office
(801) 538-5159

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Gus Rivero

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Gus.Rivero@energynet.com

Office
(806) 463-3616


Managing Director, Government Resources

Brandon Savage

Email
Brandon.Savage@energynet.com

Office
(806) 463-3621


Transaction Manager
Heather Fugger

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Heather.Fugger@energynet.com

Office
(806) 463-3619


Global Markets Strategic Analyst
Anastasia Rademaekers

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Anastasia.Rademaekers@energynet.com

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(806) 463-3635