RE: Federal Oil & Gas Lease Sale | BLM Utah State Office June 24, 202625 Jun 2026 07:54
Time to pay up....
Payment due: You cannot withdraw a bid. Your bid is a legally binding contract. For
each parcel you are the successful high bidder, you must pay the minimum
bonus bid of $10 per acre or fraction of an acre; the first year’s advance rental
of $3.00 per acre or fraction of an acre; and a non-refundable administrative
fee of $3,175.00. These are monies you owe the United States, whether or not a
lease is issued. You must submit payment of these monies to the BLM Utah
State Office prior to 4 p.m. Mountain Time June 26, 2026. Payment will be
made directly to the BLM Utah State Office. Payments to the BLM will not be
made through the auction website. At the conclusion of each parcel’s bidding
period, the winning bidder will be provided instructions by the online auction
system on how to make the required payment to the BLM. You will be required to
pay the buyer’s premium to Efficient Markets, 1.5% of any successful bid, in order
to participate in the internet-based lease sale.
If your bonus bid was more than $10 per acre or fraction of an acre and you do not pay
the full amount by June 26, 2026, you must pay any balance due by the close of
business on the 10th working day after the last day of the internet-based auction closes.
Remaining balance will be due in the Utah State Office by 4:00 p.m. Mountain
Time, July 9, 2026. If you do not pay in full by this date, you lose the right to the
lease and all money paid the day of the sale. If you forfeit a parcel, we may offer it
again at a future sale.
So when do we get to know what acreage we have...Colin
Mountain Time is 7 hours behind the UK.
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