OG2000027
McKenzie County, ND
North Dakota Oil and Gas Lease Sale, February 4, 2020
SOLD
Property Schedule
Due Diligence Began
1/2/2020
Bidding Started
1/28/2020
Bidding Ended
2/4/2020 10:52 AM
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OG2000027
160.00
160.00
Auction has ended
1/28/2020 10:52 AM CST
2/4/2020 10:52 AM CST
-
$90/acre
$2/acre
$1
$15,498
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
T146N, R99W
Sec. 36: SE4
Sec. 36: SE4
Tract Details
Lease No.
OG2000027
County, State
McKenzie, ND
Legal Description
T146N, R99W
Sec. 36: SE4
Sec. 36: SE4
Gross Acres
160.00
Net Acres
160.00
Royalty Rate
3/16th
Lease Term
5 Years (Paid Up)
Rental/Acre (Per Year)
$1.00
Rental Due At Closing
$800
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 (http://land.nd.gov/Docs/Minerals/rules.pdf).
- The burden of due diligence is the bidder's responsibility prior to any auction.
- The lease effective date will be February 4, 2020.
- 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.
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
Rick Owings
Email
rwowings@nd.gov
Office
(701) 328-1922
Minerals Management Director
Dave Shipman
Email
dashipman@nd.gov
Office
(701) 328-1949
EnergyNet Points of Contact
Government Resources
Email
government@energynet.com
Office
(866) 364-4688
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #21
2/4/2020 10:51:18 AM
$90
Bidder #22
2/4/2020 10:45:44 AM
$89
Bidder #21
2/4/2020 10:51:06 AM
$55
Bidder #22
2/4/2020 10:04:20 AM
$4
Bidder #8
2/3/2020 7:57:02 PM
$3