3120.1-2 Requirements.§ 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]