MGL No. 43

Loving/Reeves
Texas General Land Office Oil and Gas Lease Sale, January 17, 2017

SOLD

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MGL No. 43
8.50
8.50
Auction has ended
12/3/2016 10:00 AM CST
1/17/2017 10:00 AM CST
$2,500 per acre
$21,834.38
(Bonus + Agency Fees + Buyer Premium)
Tract Details
Lease Name
MGL No. 43
County, State
Reeves, TX
Legal Description
SECTION/TRACT 4-F IN THE PECOS RIVER
PSF Lands (Y/N)
Yes
Gross Acres
8.50
Net Acres
8.50
Sec. or Tract
4-F
Royalty
25%
Area
PECOS RIVER
Comments
TRACT 4-F IS BOUND ON ITS UPSTREAM END BY THE PACE UNIT 1-37, SAID UNIT BEING MORE PARTICULARLY DESCRIBED IN MINERAL FILE M-117512, AND IS BOUND ON ITS DOWNSTREAM END BY THE SIEVERS STATE UNIT 2-1, SAID UNIT BEING MORE PARTICULARLY DESCRIBED IN MINERAL FILE M-117529, SAID MINERAL FILES BEING ON FILE IN THE ARCHIVES & RECORDS DIVISION OF THE TEXAS GENERAL LAND OFFICE, AUSTIN, TEXAS.
Tract
4-F
Group Name
Rivers, Creeks, and Bayous
Additional Information

LEASE TERMS AND CONDITIONS

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

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.

OFFSET ACTIVITY

Drilling Permits from the last 365 days in Loving County, Texas

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Drilling Permits from the last 365 days in Reeves County, Texas

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Drilling Rigs on Location in Loving County, Texas

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Drilling Rigs on Location in Reeves County, Texas

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Completions from the last 365 days in Loving County, Texas

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Completions from the last 365 days in Reeves County, Texas

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BUYER PREMIUM

Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:

Tract Bonus BidBuyer's Premium
<=$50,0001.25%
>=$1,000,0001.00%

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%.

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.

GIS DATA

GIS data in the form of a shapefile is available for this lease sale. Click here to download.

The Texas General Land Office has provided a GIS map viewer, which can be viewed by clicking on the following link. http://gisweb.glo.texas.gov/glomap/index.html.

Please be advised that the information contained herein is for REFERENCE USE ONLY and is not suitable for legal, engineering, or surveying purposes. Neither Texas nor EnergyNet.com shall be liable for any direct, indirect or consequential damages to any party arising out of or in connection with the use of data contained herein.


CONTACT INFORMATION


Texas GLO

George Martin
Landman
(512) 475-1512
Email: George.Martin@glo.texas.gov

Robert Hatter
Director Energy Resources
(512) 475-1542
Email: Robert.Hatter@glo.texas.gov

EnergyNet

Gus Rivero
Manager of Government Lease Sales
(806) 463-3616
Email: Gus.Rivero@energynet.com

Brandon Savage
Assistant Manager of Government Lease Sales
(806) 463-3621
Email: Brandon.Savage@energynet.com


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