Server Time (CST): Nov. 27, 5:51:58a

003 VC-001

Lea County, NM
New Mexico State Land Office Oil & Gas Sealed Bid Lease Sale, November 16, 2021

AUCTION CANCELLED

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

Please log in as a buyer in order to bid.

Tract:

003 VC-001

Gross Acres:

320.74

Net Acres:

320.74

Time Remaining:

Auction has ended

Start Time:

11/9/2021 8:30 AM MST / 9:30 AM CST

End Time:

11/16/2021 8:30 AM MST / 9:30 AM CST

Minimum Bid:

$24,000

Total Tract Cost at Minimum Bid:

$24,900.74
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

003 VC-001

County, State

Lea, NM

Description

T14S, R35E
Sec. 30: LOT(S) 1, 2, NE4, E2NW4

Net Acres

320.74

Gross Acres

320.74

Rental/Acre (Per Year)

$1.00

First Year's Rental

$320.74

Royalty

1/5th

Lease Term

Five Years

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.

The minimum initial charge for any lease shall be one hundred dollars ($100.00) or the minimum rental rate, whichever is greater, plus the application fee as set forth in the schedule of fees. Minimum rental rate is computed by multiplying the rental rate by the acreage in each advertised tract, as per 19.2.100.15 NMAC.

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.

Seller Acquisition Agreement(s)

The New Mexico State Land Office forms associated with Oil and Gas leasing may be found at https://www.nmstatelands.org/divisions/oil-gas-and-minerals/oil-and-gas-forms/.

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

Division Director
Allison Marks

Office
(505) 827-5745

Email
amarks@slo.state.nm.us

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488