Entering into an OBA with Trust Lands involves a series of steps. First, the project proponent conducts their own research by visiting the Trust Lands GIS maps to ensure the lands they are interested in are open and not already subject to an existing lease. 

Once available lands are identified, the project proponent reaches out to the Energy & Minerals group to submit a letter of interest or business proposal. This letter explains the nature of the transaction they are proposing and should include the following details:

• Desired lands
• Resource (i.e. geothermal, oil and gas, helium, metalliferous minerals, etc.)
• Type of agreement (i.e. exploration agreement, lease, etc.)
• Term
• Start date
• Royalty rate
• Plan of development for the lands in question
• Incentives
• Any additional information such as bonuses, extensions, etc.

Once the letter of interest is received, the project proponent will be contacted by one of the Energy & Minerals group lease managers to begin negotiations. The agency may be required to solicit competing proposals.

At such time as the agency and the proponent have reached an agreement on proposed terms, the proposal will go through the approval process, which requires final approval by the Board of Trustees.

If the Board of Trustees approves the terms of the OBA, Trust Lands will draft an agreement memorializing the terms and conditions agreed upon. 

OBA proposals can be submitted via USPS to our Salt Lake City office address or by email to [email protected].