Oil and Gas Lease Auction is October 18

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Mark this date on your calendar: October 18.

That's the start date of a state auction of lease rights on land in the following counties: ALPENA, ARENAC, CHEBOYGAN, GLADWIN, GRAND TRAVERSE, ISABELLA, KALKASKA, MIDLAND, MONTMORENCY, OAKLAND, and PRESQUE ISLE.

 

The auction will begin at 9am on October 18 at the Lansing Center.  The offer of the lease rights will start at a minimum bid of $10 per acre and will continue until all descriptions have been offered.

Registration of bidders will begin at 8:00 a.m. Tuesday, October 18, 2016, and continue throughout the auction. Registration will be at the Lansing Center, 333 E. Michigan Avenue, Lansing, MI.

Prospective bidders will be required to submit a valid government-issued photo identification (ID) which may be retained by DNR staff until bidder cards are returned and all successful bids are paid in full. In addition, if the bidder is not on the authorized bidder list, they will be required to submit a security deposit in order to register. The security deposit must be a cashier’s check or money order in the amount of $5,000 made payable to “State of Michigan.” The security deposit will be returned to the registered bidder after their bidder card is returned and all successful bids are paid in full.

Prospective bidders can contact Ms. Kimberly Venne at 517-284-5912 or vennek@michigan.gov prior to the auction to confirm they are on the authorized bidder list. (In order to be placed on the authorized bidder list, the individual must have been a successful bidder at a previous State of Michigan Oil and Gas Lease Auction; not have an outstanding balance owed; and not be on the DNR Hold Action List.)

More detailed information regarding location of the nominated parcels is available at www.michigan.gov/dnrmaps, under Minerals & Geology, select Nomination Maps; or by calling 517-284-5844.

An auction catalog showing the legal description of the lands proposed to be offered and parcel classifications will be available after September 8, 2016, at www.michigan.gov/minerals, select Oil and Gas Lease Auction Information; or by contacting staff at DNR-OMM, P.O. Box 30452, Lansing, MI 48909-7952; DNR-Minerals@Michigan.gov; or 517-284-5844.

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