OG1700481

Billings County, ND
North Dakota Oil and Gas Lease Sale, August 1, 2017

SOLD

Property Schedule

Due Diligence Began 6/21/2017
Bidding Started 7/25/2017
Bidding Ended 8/1/2017 9:06 AM
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OG1700481
152.74
152.74
Auction has ended
7/25/2017 9:06 AM CDT
8/1/2017 9:06 AM CDT
-
$302/acre
$3/acre
$1
$47,823.73
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Tract Details
Lease No.
OG1700481
County, State
Billings, ND
Legal Description
UPDATE 07/18/2017: SUBJECT TO PROVISIONS S, A AND P
T142N, R102W
Sec. 36: S2NE4, LOTS 1,2
Gross Acres
152.74
Net Acres
152.74
Royalty Rate
3/16th
Lease Term
5 Years (Paid Up)
Rental/Acre (Per Year)
$1.00
Rental Due At Closing
$763.70
ND Administrative Fee
$10.00
Buyer Premium
2.00%
Additional Information

PROVISIONS

S: This tract is within an area identified as essential wildlife habitat. The lessee or lessee's operator must contact the Commissioner prior to any surface activity. Operational mitigation measures to reduce impact, including timing restrictions, location adjustments and reduced or restricted surface occupancy may be required.

A: Indicates leases shall contain a stipulation indicating an archaeological resource has been identified on this tract and may need to be protected. At least 20 days prior to any surface disturbance, our lessee shall notify the Department of Trust Lands of the intended surface disturbance. The Commissioner of University and School Lands will consider advice from the Historical Society and Geological Survey to determine what, if any, protection shall be necessary under Sec. 85-06-06-12 of the Board of University and School Lands' rules and regulations.

P: Indicates leases shall contain a stipulation indicating a paleontological resource has been identified on this tract and may need to be protected. At least 20 days prior to any surface disturbance, our lessee shall notify the Department of Trust Lands of the intended surface disturbance. The Commissioner of University and School Lands will consider advice from the Historical Society and Geological Survey to determine what, if any, protection shall be necessary under Sec. 85-06-06-12 of the Board of University and School Lands' rules and regulations.

IMPORTANT NOTICES PERTAINING TO
NORTH DAKOTA DEPARTMENT OF TRUST LAND LEASE AUCTIONS

  1. The tracts available for lease are sold on an as is basis, with no representations or warranties regarding the quality of title, ownership, or the accuracy and completeness of the information provided by the State.
  2. The tracts available for lease are subject to the restrictions found in North Dakota Century Code (NDCC) Chapter 15-05, Leasing Coal, Oil, Gas, and Other Rights (www.legis.nd.gov/cencode/t15c05.pdf) and Administrative Rule Chapter 85-06-06 (http://land.nd.gov/Docs/Minerals/rules.pdf).
  3. The burden of due diligence is the bidder's responsibility prior to any auction.
  4. The lease effective date will be August 1, 2017.
  5. The royalty rate for Billings, Divide, Dunn, Golden Valley, McKenzie, Mountrail and Williams counties is three/sixteenths (3/16). All other counties are one/sixth (1/6) royalty rate.
  6. The successful bidder must make payment by wire transfer or automated clearing house (ACH) for all bonus, rental, and bidder's premium owed to the State within 7 days. The State will accept payment from only one bidder per tract; however, a bidder may make multiple payments in one wire or ACH, provided the bidder indicates which tracts are involved in the payment.
  7. EnergyNet will send the successful bidder an email after the close of the auction with the detailed payment instructions and amounts due to the North Dakota Department of Trust Lands.

OFFSET ACTIVITY

Completions from the last 365 days in Billings County, North Dakota

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Drilling Permits from the last 365 days in Billings County, North Dakota

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Drilling Rigs on location in Billings County, North Dakota

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SUCCESSFUL BIDDER NOTIFICATION

After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.

BUYER PREMIUM

A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.


CONTACT INFORMATION


North Dakota

Rick Owings
Land Professional
(701) 328-1948
Email: rwowings@nd.gov

Allie Bement
Land Professional
(701) 328-1952
Email: abement@nd.gov

EnergyNet

John S. Munroe
VP of Engineering / Government Lease Sales
(832) 403-3122
Email: John.Munroe@energynet.com

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


Bid History (Top 10)

Bidder

Placed

Amount

Bidder #14

7/31/2017 4:09:36 PM

$302

Bidder #25

8/1/2017 9:06 AM

$301

Bidder #14

7/31/2017 4:09:36 PM

$256

Bidder #25

8/1/2017 9:05:47 AM

$255

Bidder #14

7/31/2017 4:09:36 PM

$202

Bidder #25

8/1/2017 9:05:31 AM

$201

Bidder #14

7/31/2017 4:09:36 PM

$100

Bidder #25

7/31/2017 8:21:40 PM

$99

Bidder #14

7/31/2017 4:09:36 PM

$3

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