CLO Tract 34

Pittsburg County, OK
State of Oklahoma Oil, Gas and Helium Sealed Bid Lease Sale, June 15, 2022

SOLD

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CLO Tract 34
140.00
70.00
Auction has ended
5/16/2022 10:30 AM CDT
6/15/2022 10:30 AM CDT
$350
$497
(Bonus + Delay Rental + 2% Buyer Premium)
Tract Details
Tract No.
CLO Tract 34
County, State
Pittsburg, OK
Legal Description
T07N, R13E, IM
Sec. 35: E/2 SW/4; E/2 NW/4 SW/4; NW/4 NW/4 SW/4; E/2 SW/4 SW/4; SW/4 SW/4 SW/4, less and except the Hartshorne and Woodford Formations
50% Mineral Interest
Mineral Rights %
50.00%
Net Acres
70.00
Gross Acres
140.00
Royalty
3/16ths
Rental Due
$140
Advertisement Fee
To Be Determined by CLO
Lease Term
3
CLO Terms & Conditions of Sale

TERMS AND CONDITIONS OF SALE: The Lease will be on a form prescribed by the CLO for a term of three years, and as may be extended, and will provide for 3/16ths royalty, and an annual delay rental of $1.00 per net acre to be paid in full before lease is issued, in addition to lease bonus. Bids shall be for a cash bonus for each tract, but no bid of less than $5.00 per acre will be considered. The successful bidder shall be liable for the full amount of the bid, all delay rentals and cost of advertising. Full payment is due 30 days from the date of acceptance of the bid.

Click here to view the lease form.

Pursuant to OAC 385:15-1-9; Successful bidders awarded oil and gas leases by the Land Office shall pay a performance fee of $1.00 per net mineral acre leased.

Failure to comply with any of the terms and conditions of sale will be grounds for the cancellation of the award and the retention of the deposit of earnest money as liquidated damages at the election of the Secretary.

The Commissioners of the Land Office and the State of Oklahoma make no warranty of title and reserve the right to reject any and all bids.

Important Notice Regarding Lessee Name

Please note that you must bid in the name you want on your lease.

Once the auction is closed, an assignment must be submitted for any name changes.

Please contact the Commissioners of the Land Office or view the website for consent to assignment procedures.

www.clo.ok.gov/services/minerals-leasing

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.

Commissioners of the Land Office Point of Contact

Chris Wiggers
Director, Minerals Mgmt Division

Office
(405) 521-4104

CLO Website
https://CLO.OK.gov

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488

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