Leasing Unit # 20
Uintah County, UT
Utah SITLA - Oil, Gas & Associated Hydrocarbons, October 23, 2020
SOLD
SOLD
Registration Status:
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Your Bid Status:
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Lease:
Leasing Unit # 20
Gross Acres:
15.20
Net Acres:
15.20
Time Remaining:
Auction has ended
Start Time:
10/9/2020 5:00 PM MDT / 6:00 PM CDT
End Time:
10/23/2020 5:00 PM MDT / 6:00 PM CDT
Minimum Bid:
$32.90 per acre
Total Lease Cost at Minimum Bid:
$566.93
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
T6S, R21E, SLB&M
Sec. 32 LOTS 3(10.20), 8(1.50), 9(3.50), [LOTS AKA PART OF S2SW4SE4, PART OF SE4SE4]
Lease Details
Lease Name
Leasing Unit # 20
County, State
Uintah, UT
Legal Description
T6S, R21E, SLB&M
Sec. 32 LOTS 3(10.20), 8(1.50), 9(3.50), [LOTS AKA PART OF S2SW4SE4, PART OF SE4SE4]
Gross Acres
15.20
Net Acres
15.20
Royalty
16.67%
Lease Term
5 Years
Application Fee
$30.00
Special Stipulation
Minimum Bid
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 ยง63G-2-101, et. seq.
The Applicant offers minimum $2.00 per acre and for each fractional part of an acre (fractional acre is rounded up to one full acre), which includes the first years annual rental, unless otherwise noted. 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
MINIMUM BID AMOUNT
LEASING UNIT IS AT A MINIMUM BID OF $500.00 WITH A MINIMUM ANNUAL RENTAL OF $500.00 PER YEAR. REFER TO THE SCHOOL AND INSTITUTIONAL TRUST LANDS ADMINISTRATION RULES AND REGULATIONS (O&G R850-21-500-1b; Minerals R850-25-300-1c).
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 Point of Contact
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