AUCTION CANCELLED
Registration Status:
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Tract:
Oil & Gas MGL No. 29
Gross Acres:
5.00
Net Acres:
5.00
Time Remaining:
Auction has ended
Start Time:
9/30/2022 10:00 AM CDT
End Time:
11/2/2022 10:00 AM CDT
Minimum Bid:
$1,000 per acre
Total Tract Cost at Minimum Bid:
$5,137.50
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
IN THE PECOS RIVER
BEING A PORTION OF THE PECOS RIVER, REEVES AND WARD COUNTIES, CONTAINING 5 ACRES APPROXIMATELY, BOUND ON THE UPSTREAM END BY THE DOWNSTREAM BOUNDARY OF STATE LEASE MF077827, ON FILE IN THE ARCHIVES AND RECORDS OF THE TEXAS GENERAL LAND OFFICE, AUSTIN, TEXAS, TRAVIS COUNTY, TEXAS AND IS BOUND ON THE DOWNSTREAM END BY A SOUTHWESTERLY EXTENSION OF THE NORTHWEST LINE OF H.&T.C. RR CO., BLOCK 33, SECTION 29, A-159, WARD COUNTY, TEXAS.
Tract Details
Lease Name
Oil & Gas MGL No. 29
County, State
Reeves, TX
Legal Description
IN THE PECOS RIVER
BEING A PORTION OF THE PECOS RIVER, REEVES AND WARD COUNTIES, CONTAINING 5 ACRES APPROXIMATELY, BOUND ON THE UPSTREAM END BY THE DOWNSTREAM BOUNDARY OF STATE LEASE MF077827, ON FILE IN THE ARCHIVES AND RECORDS OF THE TEXAS GENERAL LAND OFFICE, AUSTIN, TEXAS, TRAVIS COUNTY, TEXAS AND IS BOUND ON THE DOWNSTREAM END BY A SOUTHWESTERLY EXTENSION OF THE NORTHWEST LINE OF H.&T.C. RR CO., BLOCK 33, SECTION 29, A-159, WARD COUNTY, TEXAS.
PSF Lands (Y/N)
Yes
Gross Acres
5.00
Net Acres
5.00
Part or Comments
BEING A PORTION OF THE PECOS RIVER, REEVES AND WARD COUNTIES, CONTAINING 5 ACRES APPROXIMATELY, BOUND ON THE UPSTREAM END BY THE DOWNSTREAM BOUNDARY OF STATE LEASE MF077827, ON FILE IN THE ARCHIVES AND RECORDS OF THE TEXAS GENERAL LAND OFFICE, AUSTIN, TEXAS, TRAVIS COUNTY, TEXAS AND IS BOUND ON THE DOWNSTREAM END BY A SOUTHWESTERLY EXTENSION OF THE NORTHWEST LINE OF H.&T.C. RR CO., BLOCK 33, SECTION 29, A-159, WARD COUNTY, TEXAS.
Survey
PECOS RIVER
Royalty
25%
Group Name
Rivers, Creeks, and Bayous
Stipulations
RIVERS, CREEKS, AND BAYOUS
The royalty on all rivers, creeks, lakes and bayous is 25% of the gross production of oil and/or gas.
The primary term of the lease shall be three (3) years. The annual delay rental thereon is fixed at $10.00 per acre beginning with the second year of the lease. Click here to view lease form.
ABBREVIATIONS AND DEFINITIONS
Resource Management Codes - Click here to view a detailed description
AC - Acre(s)
NAVI DIST - NAVIGATION DISTRICT: Indicates that all or a portion of the tract lies within the boundaries of a navigation district. Bidders should contact the applicable governing authority for the navigation district and the General Land Office for surface use restrictions.
POL - PORTION OUTSIDE LEASE: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas lease. Lease information is available in the mineral file located in the Archives and Records Division of the General Land Office.
POU - PORTION OUTSIDE UNIT: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas unit. Unit information is available in the mineral file located in the Archives and Records Division of the General Land Office.
PT - PART: Bidders should contact the General Land Office for further information.
TMLL - THREE MARINE LEAGUE LINE: Denotes tracts that are adjacent to the Three Marine League Line. These tracts have been submitted to the MMS for the coordination of acreage.
WFAL - Denotes tracts that are WEST of the FEDERAL ADMINISTRATION LINE.
Successful Bidder Notification
When the bids are accepted by the Texas General Land Office, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment must be made within two business days.
Buyer Premium
Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:
Tract Bonus Bid | Buyer Premium |
---|---|
<=$50,000 | 1.25% |
>=$1,000,000 | 1.00% |
Buyer Premiums are only due for tracts which are sold and computed only on the winning bonus bid amount. The schedule offers a fixed rate of 1.25% up to a bonus bid value of $50,000 and then begins to slide linearly to a rate of 1.00% for a bonus bid value of $1,000,000. Bonus bids in excess of $1,000,000 are computed at a fixed rate of 1.00%.
Texas GLO Point of Contact
EnergyNet Points of Contact