Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 43 - Public Lands: Interior |
Subtitle B - Regulations Relating to Public Lands |
Chapter II - Bureau of Land Management, Department of the Interior |
SubChapter C - Minerals Management (3000) |
Part 3120 - Competitive Leases |
Subpart 3120 - Competitive Leases |
§ 3120.1-2 - Requirements.
Latest version.
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§ 3120.1-2 Requirements.
(a) Each proper BLM Sate office shall hold sales at least quarterly if lands are available for competitive leasing.
(b) Lease sales shall be conducted by a competitive oral or internet-based bidding process.
(c) The national minimum acceptable bid shall be $2 per acre or fraction thereof payable on the gross acreage, and shall not be prorated for any lands in which the United States owns a fractional interest.
[53 FR 22843, June 17, 1988, as amended at 81 FR 59905, Aug. 31, 2016]