AUCTION CANCELLED
Registration Status:
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Your Bid Status:
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Tract:
Lease OG2200976
Gross Acres:
50.50
Net Acres:
50.50
Time Remaining:
Auction has ended
Start Time:
10/25/2022 12:41 PM MDT / 1:41 PM CDT
End Time:
11/1/2022 12:41 PM MDT / 1:41 PM CDT
Your Bid:
-
Highest Bid:
-
Starting Bid:
$2/acre
Bid Increment:
$1
Total Cost at Starting Bid:
$366.53
(Bonus + Agency Fees + Advanced Rental + 3% Buyer Premium)
Legal Description:
T161, R88
Sec. 5: LAKEBED IN SE4
Tract Details
Lease No.
Lease OG2200976
County, State
Ward, ND
Legal Description
T161, R88
Sec. 5: LAKEBED IN SE4
Gross Acres
50.50
Net Acres
50.50
Royalty Rate
1/6th
Lease Term
5 Years (Paid Up)
Rental/Acre (Per Year)
$1.00
Rental Due At Closing
$252.50
ND Administrative Fee
$10.00
Buyer Premium
3.00%
Important Notices Pertaining to North Dakota Department of Trust Lands Lease Auctions
Provision
R: Notwithstanding any other provisions of this lease to the contrary, it is agreed that Lessee has no right, without first obtaining the written consent of Lessor, to drill any well from the surface of said riverbed or lakebed or to use the surface of the riverbed or lakebed for any purpose. Lessor does not warrant its title to the acreage leased by this lease. Administrative Code 85-06-01-01.3. A nomination for a tract containing a body of water may include up to a section of land if the tract cannot reasonably be subdivided by quarter section or half section. The tract acreage, including islands, may be offered and described as "more or less" and may be adjusted by the board within each quarter section. If, during any time prior to expiration of the lease, it is determined by a court or by Lessor that the acreage is more than that set forth in this lease, then Lessee will pay Lessor an additional bonus for each additional acre. Such bonus will be the same per acre bonus as that paid by Lessee to obtain this lease. If, during any time prior to expiration of the lease, it is determined by a court or by Lessor that the Lessor owns less acreage than that set forth in this lease, then Lessor will refund to Lessee the proportionate per acre bonus paid for this lease.
Seller Acquisition Agreement(s)
The North Dakota Department of Trust Lands Forms and Policies may be found at www.land.nd.gov/surface-minerals-management/mineral-auctions/forms-and-policies.
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 3% Buyer Premium, calculated as 3% of the total bonus, will be added to the cost of this lease.
North Dakota Department of Trust Lands Point of Contact
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