OG1900489
Bowman County, ND
North Dakota Oil and Gas Lease Sale, August 6 - 7, 2019
AUCTION CANCELLED
Property Schedule
Due Diligence Began
6/27/2019
Bidding Started
7/30/2019
Bidding Ended
8/6/2019 12:31 PM
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OG1900489
160.00
80.00
Auction has ended
7/30/2019 12:31 PM CDT
8/6/2019 12:31 PM CDT
-
-
$2/acre
$1
$573.20
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
T130N, R101W
Sec. 11: NW4
Sec. 11: NW4
Tract Details
Lease No.
OG1900489
County, State
Bowman, ND
Legal Description
T130N, R101W
Sec. 11: NW4
Sec. 11: NW4
Gross Acres
160.00
Net Acres
80.00
Royalty Rate
1/6th
Lease Term
5 Years (Paid Up)
Rental/Acre (Per Year)
$1.00
Rental Due At Closing
$400
ND Administrative Fee
$10.00
Buyer Premium
2.00%
Important Notices Pertaining to North Dakota Department of Trust Land Lease Auctions
- 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.
- 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 (https://www.land.nd.gov/sites/www/files/documents/Minerals/rules.pdf).
- The burden of due diligence is the bidder's responsibility prior to any auction.
- The lease effective date will be August 6, 2019.
- 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.
- 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 10 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.
- 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
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.
North Dakota Department of Trust Lands Point of Contact
EnergyNet Points of Contact
VP, Government Resources
Gus Rivero
Email
Gus.Rivero@energynet.com
Office
(806) 463-3616
Managing Director, Government Resources
Brandon Savage
Email
Brandon.Savage@energynet.com
Office
(806) 463-3621
Transaction Manager
Heather Fugger
Email
Heather.Fugger@energynet.com
Office
(806) 463-3619
Junior Strategic Analyst
Anastasia Rademaekers
Email
Anastasia.Rademaekers@energynet.com
Office
(806) 463-3635