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Registration Status:
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Your Bid Status:
Tract:
Tract 25: App #5009
Gross Acres:
320.00
Net Acres:
320.00
Time Remaining:
20D 14H 39M 6S
Start Time:
5/29/2024 9:50 AM MDT / 10:50 AM CDT
End Time:
6/4/2024 9:50 AM MDT / 10:50 AM CDT
Your Bid:
-
Highest Bid:
-
Starting Bid:
$1.75/acre
Total Cost at Starting Bid:
$596.20
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T7N R31E
Sec. 24 E2
Tract Details
Property/Well Name
Tract 25: App #5009
County, State
Yellowstone, MT
Legal Description
T7N R31E
Sec. 24 E2
Gross Acres
320.00
Net Acres
320.00
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.
Stipulations
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
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