Server Time (CDT): Mar. 28, 2:42:27p

OG-15-00533

Divide County, ND
North Dakota Oil and Gas Lease Sale

SOLD

Property Schedule

Due Diligence Began 1/1/2001
Bidding Started 7/21/2015
Bidding Ended 7/28/2015 2:40 PM

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

OG-15-00533

Gross Acres:

160.00

Net Acres:

160.00

Time Remaining:

Auction has ended

Start Time:

7/21/2015 2:40 PM CDT

End Time:

7/28/2015 2:40 PM CDT

Your Bid:

-

Highest Bid:

$42/acre

Starting Bid:

$1/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$7,664.40
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG-15-00533

County, State

Divide, ND

Gross Acres

160.00

Net Acres

160.00

Royalty Rate

3/16

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$800.00

ND Administrative Fee

$10.00

Buyer Premium

2.00%

Additional Information

Drilling Permits from the last 365 days in Divide County, North Dakota
source: www.drillinginfo.com

Drilling Rigs on Location in Divide County, North Dakota
source: www.drillinginfo.com

Important Notices Pertaining to North Dakota Department of Trust Land Lease Auctions

  1. The tracts available for lease are sold on an as is basis, with no representations or warranties regarding the quality of title, ownership, or the accuracy and completeness of the information provided by the State.
  2. The tracts available for lease are subject to the restrictions found in North Dakota Century Code (NDCC) Chapter 15-05, Leasing Coal, Oil, Gas, and Other Rights (www.legis.nd.gov/cencode/t15c05.pdf) and Administrative Rule Chapter 85-06-06 (http://land.nd.gov/Docs/Minerals/rules.pdf).
  3. The burden of due diligence is the bidder's responsibility prior to any auction.
  4. The lease effective date will be August 4, 2015.
  5. The royalty rate for Billings, Divide, Dunn, Golden Valley, McKenzie, Mountrail and Williams counties is three/sixteenths (3/16). All other counties are one/sixth (1/6) royalty rate.
  6. The successful bidder must make payment by wire transfer or automated clearing house (ACH) for all bonus, rental, and bidder's premium owed to the State within 7 days. The State will accept payment from only one bidder per tract; however, a bidder may make multiple payments in one wire or ACH, provided the bidder indicates which tracts are involved in the payment.
  7. EnergyNet will send the successful bidder an email after the close of the auction with the detailed payment instructions and amounts due to the North Dakota Department of Trust Lands.
Notice: A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.
Contact Information
North Dakota
Drew A. Combs
Director of Minerals Management
1707 N. 9th St. - PO Box 5523
Bismarck, ND 58501
(701) 328-1909

Diane M. Nelson
Land Professional
1707 N. 9th St. - PO Box 5523
Bismarck, ND 58501
(701) 328-2802
EnergyNet
John S. Munroe
VP of Engineering / Government Lease Sales
440 Louisiana, Suite 600
Houston, TX 77002
(832) 403-3122

Gus Rivero
Land Supervisor
7201 I-40 West, Suite 319
Amarillo, TX 79106
(806) 463-3616

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #11

7/28/2015 11:43:33 AM

$42

Bidder #23

7/28/2015 2:37:08 PM

$41

Bidder #11

7/28/2015 11:43:33 AM

$40

Bidder #23

7/28/2015 2:36:56 PM

$39

Bidder #11

7/28/2015 11:43:33 AM

$38

Bidder #23

7/28/2015 2:36:51 PM

$37

Bidder #11

7/28/2015 11:43:33 AM

$36

Bidder #23

7/28/2015 2:36:45 PM

$35

Bidder #11

7/28/2015 11:43:33 AM

$34

Bidder #23

7/28/2015 2:36:37 PM

$33


View 5 earlier bids...