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Sealed Bid Sales


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January 20, 2015
Deadline for nominations:
October 31, 2014


past sales

Sealed bid sales - held generally every four months by the School Land Board - are one of the ways the Texas General Land Office earns billions of dollars for the state's Permanent School Fund.

During a sealed bid sale, the Land Office allows an oil or gas company to make a cash offer for the right to explore and produce hydrocarbons on a particular piece of Permanent School Fund property. The company offering the highest up-front payment, or bonus, is awarded the lease. The Land Office will also receive a percentage of any production from the lease, called a royalty.

By asking companies to make their bids without being able to know what the other, if any, bids may be, the Land Office ensures that the sale will earn as much as possible for the school children of Texas. The Land Office's quarterly lease sales typically bring in hundreds of millions of dollars for the Permanent School Fund.

Lease sales are held in January, April, July and October. Sales are usually held on the first Tuesday of the month.

star Got a prospect?
Find out how to nominate Permanent School Fund property for an oil or gas lease. Please view the "Nominating Procedures" posted on this page.  A sample nomination letter is included as well.

star Ready to apply?
The Application for an Oil and Gas Sealed Bid Sale is posted on this page in Word format.

star Need an example?
A simple, one-page form to nominate your oil and gas prospect lease is posted on this page.  If you have any questions please contact the Land Office staff indicated.

Links to Additional Resources

Examples


Helpful Info


Procedures


Statutes & Codes


Contacts

George Martin
Landman
SLB Tracts
512.475.1512
George Martin
Jesse Arellano
Mineral Maps
512.475.1499
Jesse Arellano

Texas Department of Criminal Justice Tracts
Dianne Fuller
936.437.5428
Email

Texas Parks & Wildlife Tracts
Corky Kuhlmann
512.389.4590
Email