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Leasing Unit # 22

Grand County, UT
Utah SITLA - Oil, Natural Gas, and Associated Hydrocarbons Lease Sale, January 21, 2022

SOLD

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit # 22

Gross Acres:

640.00

Net Acres:

640.00

Time Remaining:

Auction has ended

Start Time:

1/7/2022 5:00 PM MST / 6:00 PM CST

End Time:

1/21/2022 5:00 PM MST / 6:00 PM CST

Minimum Bid:

$2 per acre

Total Lease Cost at Minimum Bid:

$1,335.60
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit # 22

County, State

Grand, UT

Legal Description

T22S, R18E, SLB&M
Sec. 16 ALL

Gross Acres

640.00

Net Acres

640.00

Royalty

16.67%

Lease Term

5 years

Application Fee

$30.00

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.

Please note the offered Leasing Unit does not provide for Helium development or extraction as a leased substance.

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.

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

Assistant Director - Oil & Gas
Wesley Adams

Email
wesadams@utah.gov

Office
(801) 538-5171

EnergyNet Point of Contact

Government Resources

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government@energynet.com

Office
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