App #5001
Toole County, MT
Container for withdrawn and cancelled tracts
AUCTION CANCELLED
AUCTION CANCELLED
Registration Status:
Please log in as a buyer to view registration status.
Your Bid Status:
Lease:
App #5001
Gross Acres:
465.56
Net Acres:
465.56
Time Remaining:
19D 13H 42M 23S
Start Time:
5/29/2024 10:46 AM
End Time:
6/4/2024 10:46 AM
Your Bid:
-
Highest Bid:
-
Starting Bid:
$1.75/acre
Bid Increment:
$1
Total Cost at Starting Bid:
$25
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T31N R3W
Sec. 16 LOTS 1-13 INC., LOTS 15, 16, E2NE4, NW4NE4, NE4SE4
*Part or all of tract is not state-owned surface
Lease Details
Property/Well Name
App #5001
County, State
Toole, MT
Legal Description
T31N R3W
Sec. 16 LOTS 1-13 INC., LOTS 15, 16, E2NE4, NW4NE4, NE4SE4
*Part or all of tract is not state-owned surface
Gross Acres
465.56
Net Acres
465.56
Royalty Rate
16.67%
Lease Term
10 Years
Rental/Acre (Per Year)
$1.50
MT Administrative Fee
$25.00
Buyer Premium
2.00%
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 |
Seller Acquisition Agreements
The Montana DNRC forms associated with oil and gas leasing may be found at https://dnrc.mt.gov/TrustLand/subsurface-resources/oil-gas-leasing
Offset Activity
Successful Bidder Notification and Buyer Premium
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.
A 2% Buyer Premium, calculated as 2% of the total bid amount, will be added to the cost of this lease.
Contacts
Montana DNRC
Theresa Hossfeld, Mineral Leasing Specialist
Email THossfeld@mt.gov
EnergyNet Government Resources
Email government@energynet.com
Office (877) 351-4488