Type of auction | Bid variable | Bidding process |
(1) Sealed bidding | A cash bonus or an operating fee rate | One sealed bid per company per lease or packaged bidding unit. |
(2) Ascending bidding | A cash bonus or an operating fee rate | Continuous bidding per lease. |
(3) Two-stage bidding (combination of ascending and sealed bidding) | An operating fee rate in one, both, or neither stage and a cash bonus in one, both, or neither stage | Ascending or sealed bidding until: (i) Only two bidders remain, or (ii) More than one bidder offers to pay the maximum bid amount. Stage-two sealed or ascending bidding commences at some predetermined time after the end of stage-one bidding. |
(4) Multiple-factor bidding | Factors may include, but are not limited to: technical merit, timeliness, financing and economics, environmental considerations, public benefits, compatibility with State and local needs, cash bonus, rental rate, and an operating fee rate | One proposal per company per lease or packaged bidding unit. |
30 C.F.R. §585.220