SOLD
Registration Status:
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Your Bid Status:
You have not bid on this lot
Tract:
Tract 7
Gross Acres:
360.00
Net Acres:
360.00
Time Remaining:
Auction has ended
Start Time:
2/23/2022 9:12 AM MST / 10:12 AM CST
End Time:
3/1/2022 9:12 AM MST / 10:12 AM CST
Your Bid:
-
Highest Bid:
$285/acre
Starting Bid:
$1.75/acre
Total Cost at Highest Bid:
$104,677
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T29N, R57E
Sec. 36: W2, NW4NE4
Part or all of tract is not state-owned surface
Tract Details
Property/Well Name
Tract 7
County, State
Roosevelt, MT
Legal Description
T29N, R57E
Sec. 36: W2, NW4NE4
Part or all of tract is not state-owned surface
Gross Acres
360.00
Net Acres
360.00
Royalty Rate
16.67%
Lease Term
10 Years
Rental/Acre (Per Year)
$1.50
MT Administrative Fee
$25.00
Buyer Premium
2.00%
Stipulations
Important Notice
This tract has received a nomination for $1.50/acre per year rental. If no other bids are received, this tract will be awarded to the nominator in accordance with the State of Montana DNRC rules and regulations.
Delayed Drilling Penalty (DDP)
Delayed Drilling Penalty | Amount/Acre/Year |
---|---|
6th Year DDP (Delayed Drilling Penalty) | $1.25 |
7th thru 10th Year DDP | $2.50 |
Successful Bidder Notification
When the bids are accepted by the State of Montana DNRC, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment must be made within two business days.
Offset Activity
Buyer Premium
A 2% Buyer Premium, calculated as 2% of the total bid amount, will be added to the cost of this lease.
State of Montana DNRC Point of Contact
EnergyNet Point of Contact
Bid History (Top 10)
Bidder
Placed
Amount
Bidder #112
3/1/2022 10:07:41 AM
$285
Bidder #580
3/1/2022 10:11:54 AM
$280
Bidder #112
3/1/2022 10:07:41 AM
$275
Bidder #720
3/1/2022 10:11:49 AM
$270
Bidder #112
3/1/2022 10:07:41 AM
$265
Bidder #720
3/1/2022 10:11:45 AM
$260
Bidder #112
3/1/2022 10:07:41 AM
$255
Bidder #720
3/1/2022 10:11:42 AM
$250
Bidder #112
3/1/2022 10:07:41 AM
$245
Bidder #580
3/1/2022 10:11:34 AM
$240