43 CFR § 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.
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