Server Time (CDT): Mar. 28, 4:24:40a

OG-16-00353

Burke County, ND
North Dakota Oil and Gas Lease Sale

SOLD

Property Schedule

Due Diligence Began 1/1/2001
Bidding Started 5/3/2016
Bidding Ended 5/10/2016 9:38 AM

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

OG-16-00353

Gross Acres:

134.70

Net Acres:

67.35

Time Remaining:

Auction has ended

Start Time:

5/3/2016 9:38 AM CDT

End Time:

5/10/2016 9:38 AM CDT

Your Bid:

-

Highest Bid:

$54/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$4,056.39
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG-16-00353

County, State

Burke, ND

Gross Acres

134.70

Net Acres

67.35

Royalty Rate

16 2/3%

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$336.75

ND Administrative Fee

$10.00

Buyer Premium

2.00%

Additional Information

Drilling Permits from the last 180 days in Burke 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 May 3, 2016.
  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.
GIS Data
GIS data in the form of a shapefile is available for this lease sale. Click here to download.
Please be advised that the information contained herein is for REFERENCE USE ONLY and is not suitable for legal, engineering, or surveying purposes. Neither Texas nor EnergyNet.com shall be liable for any direct, indirect or consequential damages to any party arising out of or in connection with the use of data contained herein.
Contact Information
North Dakota
Drew Combs
Director of Minerals Management
(701) 328-1909

Allie Bement
Land Professional
(701) 328-1952

 
 
 
 
EnergyNet
John S. Munroe
VP of Engineering / Government Lease Sales
(832) 403-3122

Gus Rivero
Manager of Government Lease Sales
(806) 463-3616

Brandon Savage
Asst Manager of Government Lease Sales
(806) 463-3621

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #42

5/10/2016 9:37:03 AM

$54

Bidder #34

5/10/2016 9:37:52 AM

$53

Bidder #42

5/10/2016 9:30:09 AM

$27

Bidder #34

5/10/2016 8:38:03 AM

$26

Bidder #42

5/10/2016 9:21:16 AM

$20

Bidder #34

5/10/2016 8:38:03 AM

$16

Bidder #42

5/10/2016 9:08:06 AM

$15

Bidder #34

5/10/2016 8:38:03 AM

$11

Bidder #42

5/10/2016 8:37:18 AM

$10

Bidder #1

5/10/2016 8:20:22 AM

$7


View 4 earlier bids...