Server Time (CDT): Mar. 28, 5:50:52a

NM-2020-08-0306

Lea County, NM
BLM New Mexico and Texas Federal Lease Sale, August 27, 2020

SOLD

Property Schedule

Due Diligence Began 3/23/2020
Bidding Started 8/27/2020
Bidding Ended 8/27/2020 1:04 PM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Parcel:

NM-2020-08-0306

Acres:

232.01

Time Remaining:

Auction has ended

Start Time:

8/27/2020 11:04 AM MDT / 12:04 PM CDT

End Time:

8/27/2020 12:04 PM MDT / 1:04 PM CDT

Your Bid:

-

Highest Bid:

$171/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$40,960.15
(Bonus + Agency Fees + Advanced Rental + 1.5% Buyer Premium)

Legal Description:

Parcel Details

Parcel

NMNM 141537
NM-2020-08-0306

County, State

Lea, NM

Legal Description

NM T0260S, R0380E, NEW MEXICO PM
Section: 030 SE;
Section: 031 LOTS 1;
Section: 031 NENE

Acres

232.01

Rental (1st Year)

$349.50

Royalty

12.50%

Administrative Fee

$170.00

Expression of Interest

NM00015751

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).

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-11-LN BLM Lease Notice for NMSO - LN - Special Cultural Resource
  • SENM-S-17-CSU BLM Stipulation for PDO - CSU - Slopes & Fragile Soils
  • SENM-S-18-CSU BLM Stipulation for PDO - CSU - Streams, Rivers and Floodplains
  • SENM-S-22-CSU BLM Stipulation for PDO - CSU - Lesser Prairie-Chickens
  • SENM-S-34-CSU BLM Stipulation for PDO - CSU - Shinnery Oak Sand Dune Habitat Complex POD
  • WO-ESA 7 BLM Stipulation for WO - Endangered Species Act Sec 7 Consultation
  • WO-NHPA BLM Stipulation for Cultural Resources and 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

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(866) 364-4688

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #1

8/27/2020 1:03:58 PM

$171

Bidder #52

8/27/2020 1:03:44 PM

$170

Bidder #68

8/27/2020 1:03:05 PM

$152

Bidder #52

8/27/2020 1:03:33 PM

$145

Bidder #68

8/27/2020 1:03:05 PM

$136

Bidder #52

8/27/2020 1:03:23 PM

$135

Bidder #68

8/27/2020 1:03:02 PM

$121

Bidder #52

8/27/2020 1:02:45 PM

$120

Bidder #68

8/27/2020 1:01:46 PM

$111

Bidder #52

8/27/2020 1:02:31 PM

$93


View 16 earlier bids...