SOLD
Registration Status:
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Your Bid Status:
You have not bid on this lot
Parcel:
NM-2020-02-058
Acres:
320.85
Time Remaining:
Auction has ended
Start Time:
2/6/2020 9:48 AM MST / 10:48 AM CST
End Time:
2/6/2020 11:48 AM MST / 12:48 PM CST
Your Bid:
-
Highest Bid:
$31,680/acre
Starting Bid:
$2/acre
Bid Increment:
$1
Total Cost at Highest Bid:
$10,322,470.70
(Bonus + Agency Fees + Advanced Rental + 1.5% Buyer Premium)
Legal Description:
NM T.0230S, R.0300E, NEW MEXICO PM
Section: 005 LOTS 3, 4;
Section: 005 S2NW,SW;
PD
Parcel Details
Parcel
NM-2020-02-058
County, State
Eddy, NM
Legal Description
NM T.0230S, R.0300E, NEW MEXICO PM
Section: 005 LOTS 3, 4;
Section: 005 S2NW,SW;
PD
Area/Project
Carlsbad FO
Acres
320.85
Rental (1st Year)
$481.50
Royalty
12.50%
Administrative Fee
$170.00
Expression of Interest
EOI#NM00015320
Comments
NEW MEXICO (SE) PD
Lease Terms and Conditions
All bidding and lease sale on BLM parcels listed on this website shall be subject to the statutes, administrative rules and regulations of the BLM per the authority of the Mineral Leasing Act of 1920 as amended and the Mineral Leasing Act for Acquired Lands of 1947, as amended.
A lease issued as a result of this sale will have a primary term of 10 years. It will continue beyond its primary term as long as oil or gas in paying quantities is produced on or for the benefit of the lease. Advance rental at $1.50 per acre for the first 5 years ($2 per acre after that) is due on or before the anniversary date each year until production begins. Once a lease is producing, you must pay a royalty of 12.5 percent of the value or the amount of production removed or sold from the lease. You will find other lease terms on our standard lease form (Form 3100-11, October 2008).
Lease Notation
LEASE NOTATION: This lease is located within the Secretary of the Interior’s Designated Potash Area and is subject to Secretarial Order No. 3324, signed December 3, 2012. Drilling an oil and gas well within this lease may result in undue waste of potash deposits, constitute a hazard to or unduly interfere with mining operations being conducted for the extraction of potash deposits. Therefore, drilling of an oil and gas well from a surface location within this lease may not be allowed, and may only be permitted if drilling occurs from either the Nash Drill Island or the Section 8 Drill Island located in Section 17 of T23S, R30E (see map).
NOTE: The successful bidder will be required to join the following unit prior to lease issuance:
NMNM 135781X
OPERATOR:
Mewbourne Oil Company
500 W Texas Street #1020
Midland, TX 79701
Stipulations
Stipulations are part of the lease and supersede any inconsistent provisions of the lease form. Some parcels are subject to surface use stipulations.
They are requirements or restrictions on how you conduct operations.
They become part of the lease and supersede any inconsistent provisions in the lease form. See Sale Notice for stipulation details.
THIS TRACT IS SUBJECT TO THE FOLLOWING LEASE STIPULATIONS:
NM-1-LN BLM Lease Notice Stipulations for NMSO - LN - SS Plant Habitat
NM-11-LN BLM Lease Notice Stipulations for Special Cultural Resource
SENM-LN-1 BLM Lease Notice Stipulations for PDO - LN - Potential Cave or Karst Occurrence Area
SENM-LN-6 BLM Lease Notice Stipulations for PDO - LN - OG Dev. Within Designated Potash Area
SENM-S-1-CSU BLM Stipulations for PDO - CSU - Potash Area Stipulation
SENM-S-18-CSU BLM Stipulations for PDO - CSU - Streams, Rivers and Floodplains
SENM-S-19-CSU BLM Stipulations for PDO - CSU - Playas and Alkali Lakes
SENM-S-21-CSU BLM Stipulations for PDO - CSU - Caves and Karst
WO-ESA 7 BLM Stipulations for WO - Endangered Species Act Sec 7 Consultation
WO-NHPA BLM Stipulations for WO - NHPA - Cultural Resources & Tribal Consultation
Successful Bidder Notification
After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.
On the day of the sale, you must pay at least the minimum bonus bid of $2 per acre or fraction of an acre; the first year's advance rental of $1.50 per acre or fraction of an acre; and a non-refundable administrative fee of $170, to the BLM State Office by the close of business.
Buyer Premium
A 1.5% Buyer Premium, calculated as 1.5% of the total bonus, will be added to the cost of this lease.
BLM New Mexico Contact Information
Email
blm_nm_leasesale@blm.gov
EnergyNet Points of Contact
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #1
2/6/2020 12:47:53 PM
$31,680
Bidder #48
2/6/2020 11:21:58 AM
$31,679
Bidder #49
2/6/2020 12:46:26 PM
$9,730
Bidder #48
2/6/2020 11:21:58 AM
$9,701
Bidder #49
2/6/2020 12:44:02 PM
$9,700
Bidder #48
2/6/2020 11:21:58 AM
$9,631
Bidder #49
2/6/2020 12:42:43 PM
$9,630
Bidder #48
2/6/2020 11:21:58 AM
$6,501
Bidder #49
2/6/2020 12:18:56 PM
$6,500
Bidder #48
2/6/2020 11:21:58 AM
$4,003