How to bid on BLM Oil & Gas Leases
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Heather Fugger

Created Apr 13, 2023

How to bid on BLM Oil & Gas Leases

BLM Oil and Gas Leases are per acre.

All bids entered on an auction property are treated as a Maximum Bid. This entered amount should be the highest amount you are willing to pay. The EnergyNet auction engine will bid automatically on your behalf, up to the amount you specify. Your Maximum Bid amount always remains confidential, both during and after the auction.

Any time a competing bid is placed that is less than your entered maximum bid, another bid one bid increment larger than this competing bid will be automatically entered on your behalf. The automatic bidding will stop when a competing bid is received that is larger than your maximum bid. EnergyNet auctions are "second-price" auctions, which means the system will never make a bid unless necessary to maintain your status as high bidder. For example, let's say you would like to bid on a property with a current high bid of $12 and a bid increment of $1. If you enter a Maximum Bid of $100 on this property, a new bid will be placed automatically at $13, the next minimum increment, to make you the new high bidder. The system will then continue to increase your bid whenever you are outbid. The system will only bid up to, and including, the $100 limit you specified.

The Maximum Bid mechanism is an invaluable tool to maintain your bidding status. Because it operates automatically, based on the parameters you set, you don't have to be active during the auction to participate, and you don't need to manually place flat bids. This feature can be very important when bids begin to increase faster than you can respond manually.

After you have set a Maximum Bid amount, you don't have to be online during the rest of the auction if you are unable. This is especially useful when you must be away from your computer during the auction, or if you won't have access to the Internet at times while the auction is in progress. You don't have to be online or logged in for the system to bid on your behalf.

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Energynet

8 Steps
1

Navigate to EnergyNet.com and click on View Listings in the Government Agency Offerings card

Navigate to EnergyNet.com and click on View Listings in the Government Agency Offerings card
2

Click on View Listings for the desired BLM Offering

The View Listings button will appear on the far right of the blue offering banner, below the main map.

Click on View Listings for the desired BLM Offering
3

Navigate to the parcel of interest and click on Parcel Info

Clicking on Parcel Info will redirect to the Property Information Page, specific to each offered parcel.

Navigate to the parcel of interest and click on Parcel Info
4

Click on Place a Bid

Clicking on Place a Bid will redirect to the Bid Page, specific to each offered parcel.

Click on Place a Bid
5

Click on Your Maximum Bid Per Acre

Click on Your Maximum Bid Per Acre
6

Type password

Type password
7

Click on Place Bid

Click on Place Bid
8

Click on Bid History to view Bid History. The Bid History is also available on the Parcel Information page.

Click on Bid History to view Bid History.  The Bid History is also available on the Parcel Information page.
Well done!
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