SOLD
Registration Status:
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Tract:
MGL No. 37
Gross Acres:
171.00
Net Acres:
171.00
Time Remaining:
Auction has ended
Start Time:
12/3/2016 10:00 AM CST
End Time:
1/17/2017 10:00 AM CST
Minimum Bid:
$1,500 per acre
Total Tract Cost at Minimum Bid:
$263,414.36
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
33S81W FROM THE COUNTY SEAT, SECTION/TRACT 16, BLOCK 58, TSP 6-S IN THE T. & P. RY. CO. SURVEY, A-6054
Tract Details
Lease Name
MGL No. 37
County, State
Reeves, TX
Legal Description
33S81W FROM THE COUNTY SEAT, SECTION/TRACT 16, BLOCK 58, TSP 6-S IN THE T. & P. RY. CO. SURVEY, A-6054
PSF Lands (Y/N)
Yes
Gross Acres
171.00
Net Acres
171.00
Part or Comments
NW/4
Dist. Dir. County Seat
33S81W
Sec. or Tract
16
Block
58
TSP
6-S
Survey
T. & P. RY. CO.
Royalty
25%
Group Name
Surveyed School Land
Additional Information
LEASE TERMS AND CONDITIONS
SURVEYED SCHOOL LAND
The royalty on all surveyed school land is 25% of the gross production of oil and/or gas. The primary term of the lease shall be three (3) years. The annual delay rental thereon is fixed at $10.00 per acre beginning with the second year of the lease. Click here to view lease form.
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 â 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.
OFFSET ACTIVITY
Drilling Permits from the last 365 days in Reeves County, Texas
Drilling Rigs on Location in Reeves County, Texas
Completions from the last 365 days in Reeves County, Texas
BUYER PREMIUM
Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:
Tract Bonus Bid | Buyer's Premium |
<=$50,000 | 1.25% |
>=$1,000,000 | 1.00% |
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
Email: George.Martin@glo.texas.gov
Robert Hatter
Director Energy Resources
(512) 475-1542
Email: Robert.Hatter@glo.texas.gov
EnergyNet
Gus Rivero
Manager of Government Lease Sales
(806) 463-3616
Email: Gus.Rivero@energynet.com
Brandon Savage
Assistant Manager of Government Lease Sales
(806) 463-3621
Email: Brandon.Savage@energynet.com