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Leasing Unit # 8

Uintah County, UT
Utah SITLA - Oil, Natural Gas, Associated Hydrocarbons and Helium Lease Sale, October 22, 2021

SOLD

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit # 8

Gross Acres:

80.00

Net Acres:

80.00

Time Remaining:

Auction has ended

Start Time:

10/8/2021 5:00 PM MDT / 6:00 PM CDT

End Time:

10/22/2021 5:00 PM MDT / 6:00 PM CDT

Minimum Bid:

$6.25 per acre

Total Lease Cost at Minimum Bid:

$540
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit # 8

County, State

Uintah, UT

Legal Description

T2S, R1E, USM;
Sec. 1: W2SE4

Gross Acres

80.00

Net Acres

80.00

Royalty

16.67%

Lease Term

5 years

Application Fee

$30.00

Special Stipulation

Minimum Bid Amount Stip
Partial or No SITLA Surface
Archaeology Area

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 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

ARCHAEOLOGY AREA

LEASING UNIT CONTAINS OR IS ADJACENT TO ARCHAEOLOGICAL SITES WITH A FAIRLY HIGH PROBABILITY THAT ADDITIONAL SITES COULD EXIST.

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).

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 Point of Contact

Trust Lands Senior Landman
Lindsay Dick, CPL

Email
lindsaydick@utah.gov

Office
(801) 538-5159

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