Home
Forms Library
STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan

STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan 2025

STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan Preview on Page 1

Show details

4 out of 5

36 votes

The document outlines the guidelines and details for the State of Michigan's Oil and Gas Lease Auction scheduled for May 3, 2011. It includes information on bidder registration, auction procedures, lease rights offerings, minimum bid amounts, and requirements for qualified bidders. The document also specifies conditions related to surface rights, development leases, rental fees, royalties, and legal obligations regarding environmental protection and discrimination laws. Additionally, it provides contact information for further inquiries.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The fastest way to redact STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Dochub is the greatest editor for modifying your documents online. Adhere to this straightforward guideline redact STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan in PDF format online for free:

Sign up and log in. Create a free account, set a strong password, and go through email verification to start managing your forms.
Add a document. Click on New Document and select the file importing option: upload STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan from your device, the cloud, or a protected URL.
Make changes to the sample. Take advantage of the upper and left panel tools to edit STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan. Insert and customize text, images, and fillable fields, whiteout unnecessary details, highlight the important ones, and comment on your updates.
Get your documentation accomplished. Send the sample to other individuals via email, create a link for quicker document sharing, export the sample to the cloud, or save it on your device in the current version or with Audit Trail added.

Discover all the advantages of our editor right now!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the going rate for oil and gas leases?

Negotiating an oil and gas lease will require some research upfront. If youre a landowner interested in working with an oil and gas company, you should explore their history and experience. Youll want to work with a reputable company that works in your best interests, holds a high standard, and maintains insurance.

How to value oil and gas leases?

The most important factors are: How many net acres you own. Your lease royalty rate. Number of pooled acres. Price of Oil and Gas. Volume of Oil and Gas Produced.

What is the rate of oil and gas lease?

The Federal onshore oil and gas rate is 16.67% for leases issued after August 16, 2022. However, there are a few exceptions, including different royalty rates on older leases, reduced royalty rates on certain oil leases with declining production, and increased royalty rates for reinstated leases.

How much do oil companies pay to drill on your land per?

Price Per Acre In 2024, some local drillers reported that the average amount they pay landowners per acre is in the $500/acre range. This is because landmen (the agents who negotiate leases) usually offer significantly less per acre if they suspect you lack knowledge of the market.

Can you negotiate an oil and gas lease?

The MLA requires each BLM state office to conduct quarterly oil and gas lease sales by oral bidding where eligible lands are available. It also establishes the minimum bonus bid1 of $2 per acre. Parcels unsold at the oral auctions are available noncompetitively starting the day after the sale.

What is the average royalty payment for oil and gas?

Royalty Rates: The royalty agreement or rate is a percentage of total revenue gotten from the sale of oil and gas, and its always outlined in the lease agreement. The royalty percentage is usually 12.5% to 15% but can change based on regional regulations or negotiations.

What type of auctions do the BLM conduct when oil and gas leases are available?

A one-time payment to a lessor as consideration for signing a paid-up oil gas lease. The bonus is generally not written in the lease. It is normally paid on a per net mineral acre basis and should be paid in a simultaneous exchange of the signed lease.

STATE OF MICHIGAN OIL AND GAS LEASE AUCTION - michigan 2025

Here's how it works