Server Time (CDT): Mar. 28, 5:12:11a

MGL No. 90

Midland County, TX
Texas General Land Office Oil and Gas Lease Sale, July 19, 2016

SOLD

Registration Status:

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Your Bid Status:

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Tract:

MGL No. 90

Gross Acres:

1.928

Net Acres:

1.928

Time Remaining:

Auction has ended

Start Time:

6/4/2016 10:00 AM CDT

End Time:

7/19/2016 10:00 AM CDT

Minimum Bid:

$500 per acre

Total Tract Cost at Minimum Bid:

$990.51
(Bonus + Agency Fees + Buyer Premium)

Legal Description:

Tract Details

Lease Name

MGL No. 90

County, State

Midland, TX

Legal Description

TEXAS DEPARTMENT OF TRANSPORTATION

PSF Lands (Y/N)

No

Gross Acres

1.928

Net Acres

1.928

Part or Comments

BEING A TRACT CONTAINING 1.928 ACRES AND DESCRIBED IN 2 TRACTS AS FOLLOWED: TRACT 1, DESCRIBED AS LOTS 1-6, BLOCK F OF THE GARRETT ADDITION IN THE CITY OF MIDLAND, TEXAS CONTAINING .964 ACRES AND REFERRED IN A DEED FROM ELIZABETH GARRETT TO THE STATE OF TEXAS, RECORDED VOL. 87 PG. 443 OF THE DEED RECORDS OF MIDLAND COUNTY, TEXAS; TRACT 2, DESCRIBED AS LOTS 1-6, BLOCK 6 OF THE COLLEGE HEIGHTS ADDITION IN THE CITY OF MIDLAND, TEXAS CONTAINING .964 ACRES AND REFERRED IN A DEED FROM F. P. ELKINS TO THE STATE OF TEXAS, RECORDED VOL. 87 PG. 442 OF THE DEED RECORDS OF MIDLAND COUNTY, TEXAS. ADDITIONALLY, THE TRACT IS REFERRED TO IN A QUITCLAIM DEED FROM THE STATE OF TEXAS TO THE CITY OF MIDLAND, TEXAS, RECORDED IN VOL. 1587 PG. 232 OF THE DEED RECORDS OF MIDLAND COUNTY, TEXAS. (THE STATE OF TEXAS RESERVED THE MINERALS IN THE QUITCLAIM DEED)

Sec. or Tract

0

Survey

TEXAS DEPARTMENT OF TRANSPORTATION

Royalty

25%

Tract

GARRETT ADDITION

Group Name

Texas Department of Transportation

Additional Information

TEXAS DEPARTMENT OF TRANSPORTATION

TERMS AND CONDITIONS
The royalty on the Texas Department of Transportation (TxDOT) tract is fixed at 25% of the gross production of oil and/or gas. The primary term of the leases shall be three (3) years. The annual rental is fixed at $10.00 per net mineral acre beginning with the second year of the lease. Subject to the right to reject any bid, the School Land Board will lease advertised tracts to the highest bidder meeting or exceeding the minimum bid.

The lease issued for the TxDOT tract shall be subject to the following surface use restrictions:
         ◌ Any provision herein to the contrary notwithstanding, it is agreed and understood that no entry shall be permitted on the surface of the leased lands. Any development of the land shall be by means of directional or horizontal wells located off the leased land, or by pooling of said land with other land or leases as provided by Subchapter E, Chapter 52, Natural Resources Code.

ABBREVIATIONS AND DEFINITIONS
AC - Acre(s)
NAVI DIST - NAVIGATION DISTRICT: Indicates that all or a portion of the tract lies within the boundaries of a navigation district. Bidders should contact the applicable governing authority for the navigation district and the General Land Office for surface use restrictions.
POL – PORTION OUTSIDE LEASE: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas lease. Lease information is available in the mineral file located in the Archives and Records Division of the General Land Office.
POU - PORTION OUTSIDE UNIT: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas unit. Unit information is available in the mineral file located in the Archives and Records Division of the General Land Office.
PT - PART: Bidders should contact the General Land Office for further information.
TMLL - THREE MARINE LEAGUE LINE: Denotes tracts that are adjacent to the Three Marine League Line. These tracts have been submitted to the MMS for the coordination of acreage.
WFAL - Denotes tracts that are WEST of the FEDERAL ADMINISTRATION LINE.
Drilling Permits from the last 180 days in Midland County, Texas
source: www.drillinginfo.com

Drilling Rigs on Location in Midland County, Texas
source: www.drillinginfo.com

Completions from the last 180 days in Midland County, Texas
source: www.drillinginfo.com
Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:
Tract Bonus BidBuyer's Premium
<=$50,0001.25%
>=$1,000,0001.00%
Buyer Premiums are only due for tracts which are sold and computed only on the winning bonus bid amount. The schedule offers a fixed rate of 1.25% up to a bonus bid value of $50,000 and then begins to slide linearly to a rate of 1.00% for a bonus bid value of $1,000,000. Bonus bids in excess of $1,000,000 are computed at a fixed rate of 1.00%.
Successful Bidder Notification
When the bids are accepted by the Texas General Land Office, the successful bidder will be notified via email with closing instructions, including total amount due.
GIS Data
GIS data in the form of a shapefile is available for this lease sale. Click here to download.
The Texas General Land Office has provided a GIS map viewer, which can be viewed by clicking on the following link. http://gisweb.glo.texas.gov/glomap/index.html.
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
Texas GLO
George Martin
Landman
(512) 475-1512

Robert Hatter
Director Energy Resources
(512) 475-1542

 
 
 
 
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 Government Lease Sales
(806) 463-3621