AUCTION CANCELLED
Registration Status:
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Your Bid Status:
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Tract:
Tract 266
Gross Acres:
39.106
Net Acres:
39.106
Time Remaining:
Auction has ended
Schedule Status:
Sealed Bids Due: September 20th, 2017 @ 10AM
Minimum Bid:
$375 per acre
Total Tract Cost at Minimum Bid:
$16,045.68
(Bonus + Agency Fees + Advanced Rental + Buyer Premium)
Legal Description:
Block 12, Sec. 25: NWNE (Below 8005')
Tract Details
Tract
Tract 266
County, State
Andrews, TX
Legal Description
Block 12, Sec. 25: NWNE (Below 8005')
Gross Acres
39.106
Net Acres
39.106
Delay Rental ($25/acre)
$977.65
Royalty
25%
Depth Restrictions
Below 8005'
Additional Information
LEASE TERMS AND CONDITIONS
Effective September 20th, 2017 with a primary term of three (3) years and a Royalty rate of 25%. Click here to view lease form.
This Lease is subject to any and all existing pipeline, road or utility easements, surface or commercial agreements, and encumbrances of any nature affecting the Premises or any part thereof, and the rights of the parties thereunder, which are evidenced by documentation filed of record in the Official Public Records of the County where the Premises are located as of the Effective Date or that a true and correct survey would reveal.
PROSPECTIVE INTERVALS
OFFSET ACTIVITY
Completions from the last 365 days in Andrews County, Texas
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Drilling Permits from the last 365 days in Andrews County, Texas
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Drilling Rigs on location in Andrews County, Texas
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's 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%.
SUCCESSFUL BIDDER NOTIFICATION
When the bids are accepted by the University Lands of Texas, the successful bidder will be notified via email with closing instructions, including total amount due.
CONTACT INFORMATION
University Lands
Brian Owen
Land Director
(918) 232-3958-4753
Email: BOwen@utsystem.edu
Lisa Belue
Sr. Land Associate
(432) 686-5479
Email: LBelue@utsystem.edu
David DeFelice
Geoscience Director (Technical Overview)
(713) 352-3850
Email: DDeFelice@utsystem.edu
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