Property Information

OG1900521

Bowman County, ND

North Dakota Oil and Gas Lease Sale, August 6 - 7, 2019

SOLD

Property Schedule

Due Diligence Began 6/27/2019

Bidding Started 7/30/2019

Bidding Ended 8/6/2019 1:03 PM

Registration Status

Please log in as a buyer to view registration status.

Your Bid Status

You have not bid on this lot

Tract

OG1900521

Gross Acres

80.00

Net Acres

40.00

Time Remaining

Auction has ended

Start Time

7/30/2019 1:03 PM CDT

End Time

8/6/2019 1:03 PM CDT

Your Bid

Highest Bid

$2/acre

Starting Bid

$2/acre

Bid Increment

Total Cost at Highest Bid

$291.60

(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description

T130N, R102W
Sec. 23: W2SW4

Tract Details

Lease No.

OG1900521

County, State

Bowman, ND

Legal Description

T130N, R102W
Sec. 23: W2SW4

Gross Acres

80.00

Net Acres

40.00

Royalty Rate

1/6th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$200

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.