Oil & Gas Leasing

Oil and gas leases are offered through competitive bidding at oral or online auctions. Tracts are nominated by Public Land Survey System description. Each nominated tract requires an application fee of $250.00. Leases can be offered for up to a term of 10 years.

The minimum bonus bid increment is $1.00 per acre. The total bonus bid is the sum of the amount bid per acre times the acres in the tract. Successful bidders must pay the bonus bid, plus the first year’s annual rental of $3.00 per acre.

Annual rental for the remaining term of the lease is also $3.00 per acre per year.

There is a royalty on any oil and gas produced from the lease of no less than 12.5%.

A $1,000 bond is required for exploration on each lease. The bond must be increased to $6,000 prior to drilling. An additional bond is required under the drilling permit, which is issued by the Idaho Oil and Gas Conservation Commission.

Rules

20.03.16 – RULES GOVERNING OIL AND GAS LEASING ON IDAHO STATE LANDS.

Oil & Gas Auction Schedule

Please click on calendar dates to the right of page for more details

July 2020
CANCELLED – No Nominations Received

October 2020
CANCELLED – No Nominations Received

January 2021
CANCELLED – No Nominations Received

April 2021
Nomination Closing: January 15, 2021
Auction Opening: April 8, 2021
Auction Closing: April 15, 2021

July 2021
Nomination Closing: April 16, 2021
Auction Opening: July 8, 2021
Auction Closing: July 15, 2021

October 2021
Nomination Closing: July 16, 2021
Auction Opening: October 7, 2021
Auction Closing: October 14, 2021