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003 VB-003

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

AUCTION SOLD

Registration Status:

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Your Bid Status:

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Tract:

003 VB-003

Gross Acres:

320.00

Net Acres:

320.00

Time Remaining:

Auction has ended

Start Time:

8/13/2019 9:30 AM CDT / 8:30 AM MDT

End Time:

8/20/2019 9:30 AM CDT / 8:30 AM MDT

Minimum Bid:

$20,000

Total Lease Cost at Minimum Bid:

$20,493.60
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

003 VB-003

County, State

Lea, NM

Description

T17S, R32E
Sec. 36: N2

Net Acres

320.00

Gross Acres

320.00

Rental/Acre (Per Year)

$1.00

Royalty

3/16th

Lease Term

5 Years

Restriction

E: Subject to 3/2012 Conservation Agreement

Application Fee

$100.00

Lease Terms and Conditions

All bidding and lease sales on NMSLO 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.

Successful Bidder Notification

After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.

Payment to the New Mexico State Land Office must be made before close of business (mountain time) on the day of the sale.

Buyer Premium

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

New Mexico State Land Office Point of Contact

Chief Geologist
Oil, Gas and Minerals Division
Stephen L. Wust, Ph.D.

Office
(505) 827-5774

Email
swust@slo.state.nm.us

EnergyNet Points of Contact

VP, Government Resources
Gus Rivero

Email
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

Email
Heather.Fugger@energynet.com

Office
(806) 463-3619


Global Markets Strategic Analyst
Anastasia Rademaekers

Email
Anastasia.Rademaekers@energynet.com

Office
(806) 463-3635