OG1900897

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

SOLD

Property Schedule

Due Diligence Began 6/27/2019
Bidding Started 7/31/2019
Bidding Ended 8/7/2019 1:32 PM
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OG1900897
159.70
159.70
Auction has ended
7/31/2019 1:32 PM CDT
8/7/2019 1:32 PM CDT
-
$700/acre
$2/acre
$1
$114,834.30
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Tract Details
Lease No.
OG1900897
County, State
McKenzie, ND
Legal Description
T153N, R102W
Sec. 28: MISSOURI RIVER IN SE4
Update: 07/16/2019
This tract is subject to Lis Pendens recorded in Doc. 517124, McKenzie County, North Dakota on July 8, 2019.
Gross Acres
159.70
Net Acres
159.70
Royalty Rate
3/16th
Lease Term
5 Years (Paid Up)
Rental/Acre (Per Year)
$1.00
Rental Due At Closing
$798.50
ND Administrative Fee
$10.00
Buyer Premium
2.00%
Important Notices Pertaining to North Dakota Department of Trust Land Lease Auctions
  1. 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.
  2. 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).
  3. The burden of due diligence is the bidder's responsibility prior to any auction.
  4. The lease effective date will be August 6, 2019.
  5. 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.
  6. 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.
  7. 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.
Provision

W: This tract is within an area identified as essential wildlife habitat, however the Department of Trust Lands does not manage the surface.

R: Indicates that leases will contain an addendum stipulating that no surface occupancy will be allowed.

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

Land Professional
Allie Nagel, CPL

Email
allie.nagel@nd.gov

Office
(701) 328-1952

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

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #27

8/7/2019 1:31:36 PM

$700

Bidder #28

8/7/2019 1:31:58 PM

$699

Bidder #27

8/7/2019 1:31:36 PM

$526

Bidder #16

8/7/2019 1:31:55 PM

$525

Bidder #27

8/7/2019 1:31:36 PM

$516

Bidder #16

8/7/2019 1:31:49 PM

$515

Bidder #27

8/7/2019 1:31:36 PM

$513

Bidder #16

8/7/2019 1:24:15 PM

$512

Bidder #50

8/7/2019 1:23:44 PM

$505

Bidder #16

8/7/2019 12:59:08 PM

$500

View 12 earlier bids...

1