Server Time (CST): Feb. 3, 12:23:55a

Leasing Unit # 1

Juab County, UT
Utah SITLA - Gemstone/Fossil, July 22, 2022

AUCTION CANCELLED

Registration Status:

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Your Bid Status:

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Lease:

Leasing Unit # 1

Gross Acres:

80.00

Net Acres:

80.00

Time Remaining:

Auction has ended

Start Time:

7/8/2022 5:00 PM MDT / 6:00 PM CDT

End Time:

7/22/2022 5:00 PM MDT / 6:00 PM CDT

Minimum Bid:

$21.25 per acre

Total Lease Cost at Minimum Bid:

$1,764
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Lease Details

Lease Name

Leasing Unit # 1

County, State

Juab, UT

Legal Description

T15S, R2W, SLB&M
Sec. 1: W2SW4

Gross Acres

80.00

Net Acres

80.00

Royalty

Greater or 10% or $300.00/ton

Lease Term

10 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 63G-2-101, et. seq.

The Applicant offers a minimum bid of $500.00 or $10.00 per acre, (fractional acre is rounded up to one full acre) which ever is greater, as well as $900.00 as an annual advanced minimum royalty payment. 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.

General Comments

Partial or no 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 Mineral Resource Specialist
Tyler Wiseman

Email
twiseman@utah.gov

Office
(801) 538-5153

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488