SOLD
Registration Status:
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Your Bid Status:
You have not bid on this lot
Tract:
Tract 3: App #5009
Gross Acres:
160.00
Net Acres:
160.00
Time Remaining:
Auction has ended
Start Time:
2/28/2024 9:04 AM MST / 10:04 AM CST
End Time:
3/5/2024 9:04 AM MST / 10:04 AM CST
Your Bid:
-
Highest Bid:
$1.75/acre
Starting Bid:
$1.75/acre
Total Cost at Highest Bid:
$310.60
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T35N R1E
Sec. 25 NE4
*Part or all of tract is not state-owned surface
Tract Details
Property/Well Name
Tract 3: App #5009
County, State
Toole, MT
Legal Description
T35N R1E
Sec. 25 NE4
*Part or all of tract is not state-owned surface
Gross Acres
160.00
Net Acres
160.00
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
Offset Activity
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.
Contacts
Montana DNRC
Theresa Hossfeld, Mineral Leasing Specialist
Email THossfeld@mt.gov
EnergyNet Government Resources
Email government@energynet.com
Office (877) 351-4488
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #420
3/5/2024 10:02:58 AM
$1.75