AUCTION CANCELLED
Registration Status:
Please log in as a buyer to view registration status.
Your Bid Status:
Please log in as a buyer in order to bid.
Tract:
Tract 158
Gross Acres:
647.80
Net Acres:
647.80
Time Remaining:
Auction has ended
Start Time:
8/19/2018 10:00 AM CDT
End Time:
9/19/2018 10:00 AM CDT
Minimum Bid:
$250 per acre
Total Tract Cost at Minimum Bid:
$182,550.91
(Bonus + Agency Fees + Advanced Rental + Buyer Premium)
Legal Description:
Block 15, Sec. 05: All
Tract Details
Tract
Tract 158
County, State
Upton, TX
Legal Description
Block 15, Sec. 05: All
Gross Acres
647.80
Net Acres
647.80
Delay Rental ($25/acre)
$16,195
Royalty
20%
Lease Terms and Conditions
Effective September 19th, 2018 with a primary term of three (3) years and a Royalty rate of 20.00%. 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.
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.
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%.
University Lands Points of Contact
Land Director
Brian Owen
Email
BOwen@utsystem.edu
Office
(918) 232-3958-4753
Geoscience Director
David DeFelice
Email
DDeFelice@utsystem.edu
Office
(713) 352-3850
Associate Landman
Lisa Belue
Email
LBelue@utsystem.edu
Office
(432) 686-5479
Landman
Joseph Jarke
Email
JJarkeJr@utsystem.edu
Office
(432) 686-5478
Landman
Danielle Jeter
Email
LJeter@utsystem.edu
Office
(432) 686-5477
EnergyNet Points of Contact
VP of Government Lease Sales
Gus Rivero
Email
Gus.Rivero@energynet.com
Office
(806) 463-3616
Manager of Government Lease Sales
Brandon Savage
Email
Brandon.Savage@energynet.com
Office
(806) 463-3621
Government Lease Sales Analyst
Heather Fugger
Email
Heather.Fugger@energynet.com
Office
(806) 463-3619