AUCTION CANCELLED
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Tract:
MGL No. 33
Gross Acres:
61.00
Net Acres:
61.00
Time Remaining:
Auction has ended
Start Time:
3/10/2018 9:00 AM CST
End Time:
4/3/2018 10:00 AM CDT
Minimum Bid:
$500 per acre
Total Tract Cost at Minimum Bid:
$31,338.75
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
SECTION/TRACT 11-B IN THE TRINITY RIVER
Tract Details
Lease Name
MGL No. 33
County, State
Liberty, TX
Legal Description
SECTION/TRACT 11-B IN THE TRINITY RIVER
PSF Lands (Y/N)
Yes
Gross Acres
61.00
Net Acres
61.00
Part or Comments
TRACT 11-B IS BOUND ON ITS UPSTREAM END BY A LINE BEARING S 2° E (GRID) AND PASSING THROUGH A POINT HAVING COORDINATES OF X=3,726,121 FEET AND Y=343,976 FEET, AND IS BOUND ON ITS DOWNSTREAM END BY A LINE BEARING GRID S 63° 15' E AND PASSING THROUGH A POINT HAVING COORDINATES OF X=3,727,881 FEET AND Y=340,249 FEET, TEXAS COORDINATE SYSTEM, CENTRAL ZONE, NAD27.
Royalty
25%
Area
TRINITY RIVER
Tract
11-B
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
Resource Management Codes - Click here to view a detailed description
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 â 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
Completions from the last 365 days in Libery County, Texas
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Drilling Permits from the last 365 days in Liberty, Polk and San Jacinto Counties, Texas
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Drilling Rigs on location in Liberty and Polk Counties, 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 Texas General Land Office, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment must be made within two business days.
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
Heather Fugger
Government Lease Sales Analyst
(806) 463-3619
Email: Heather.Fugger@energynet.com