SOLD
Registration Status:
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Your Bid Status:
You have not bid on this lot
Tract:
Tract 1: App #5003
Gross Acres:
640.00
Net Acres:
640.00
Time Remaining:
Auction has ended
Start Time:
11/29/2023 9:00 AM MST / 10:00 AM CST
End Time:
12/5/2023 9:00 AM MST / 10:00 AM CST
Your Bid:
-
Highest Bid:
$1.75/acre
Starting Bid:
$1.75/acre
Total Cost at Highest Bid:
$1,167.40
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T13N R34E
Sec. 16 ALL
Tract Details
Property/Well Name
Tract 1: App #5003
County, State
Garfield, MT
Legal Description
T13N R34E
Sec. 16 ALL
Gross Acres
640.00
Net Acres
640.00
Royalty Rate
16.67%
Lease Term
10 Years
Rental/Acre (Per Year)
$1.50
MT Administrative Fee
$25.00
Buyer Premium
2.00%
Important Notice
This tract has received a nomination for $1.50/acre per year rental. If no other bids are received, this tract will be awarded to the nominator in accordance with the State of Montana DNRC rules and regulations.
Stipulations
Delayed Drilling Penalty (DDP)
Delayed Drilling Penalty | Amount/Acre/Year |
---|---|
6th Year DDP (Delayed Drilling Penalty) | $1.25 |
7th thru 10th Year DDP | $2.50 |
Seller Acquisition Agreements
The Montana DNRC forms associated with oil and gas leasing may be found at https://dnrc.mt.gov/TrustLand/subsurface-resources/oil-gas-leasing
Successful Bidder Notification and Buyer Premium
When the bids are accepted by the State of Montana DNRC, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment must be made within two business days.
A 2% Buyer Premium, calculated as 2% of the total bid amount, will be added to the cost of this lease.
State of Montana DNRC Point of Contact
Mineral Leasing Specialist
Theresa Hossfeld
Email
THossfeld@mt.gov
EnergyNet Point of Contact
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #6
12/3/2023 2:53:10 PM
$1.75