La. Admin. Code tit. 43 § I-1137

Current through Register Vol. 50, No. 6, June 20, 2024

Section I-1137 - Examination and Evaluation of Bids for an Alternative Energy Source Lease

A. Sealed bids for a state AESL shall be publicly opened and read aloud on the date advertised for the public opening of bids (generally, the lease sale date at which the tract is offered) in the LaBelle Room, also known as the Conservation and Mineral Resources Hearing Room, located on the first floor of the LaSalle Building at 617 North Third Street, Baton Rouge, LA. The board shall defer action on the bids for the AESL until completion of the pending examination and evaluation of the bids by its staff, but no more than 120 calendar days after the opening of the bid. The board staff shall examine and evaluate the bids to confirm compliance with legal, procedural and technical requirements, as well as with any current policies and practices, based on available data and analyses.

B. If examination of the successful bid acreage amount reveals that there is more or less state acreage than the amount bid on, without exceeding the boundaries advertised, the dollar amount (bonus) shall be adjusted accordingly.

C. The board has the authority to accept or reject any bid.

D. The cash bonus and the administrative fee paid shall be negotiated and transmitted for processing in accordance with law.

La. Admin. Code tit. 43, § I-1137

Promulgated by Department of Natural Resources, Office of Mineral Resources, LR 38:134 (January 2012).

AUTHORITY NOTE: Promulgated in accordance with R.S. 30:124.