Server Time (CDT): Mar. 28, 7:39:08p

OG1700278

Burke County, ND
North Dakota Oil and Gas Lease Sale

SOLD

Property Schedule

Due Diligence Began 3/28/2017
Bidding Started 4/25/2017
Bidding Ended 5/2/2017 9:20 AM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Tract:

OG1700278

Gross Acres:

80.00

Net Acres:

40.00

Time Remaining:

Auction has ended

Start Time:

4/25/2017 9:20 AM CDT

End Time:

5/2/2017 9:20 AM CDT

Your Bid:

-

Highest Bid:

$982/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$40,275.60
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG1700278

County, State

Burke, ND

Legal Description

T159N, R92W
Sec. 25: S2NE4

Gross Acres

80.00

Net Acres

40.00

Royalty Rate

1/6th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$200.00

ND Administrative Fee

$10.00

Buyer Premium

2.00%

Additional Information

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 2, 2017.
  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.

OFFSET ACTIVITY

Completions from the last 365 days in Burke County, North Dakota

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Drilling Permits from the last 365 days in Burke County, North Dakota

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SUCCESSFUL BIDDER NOTIFICATION

After all auctions have closed, the successful bidder will be notified via email with closing instructions, including total amount due.

BUYER PREMIUM

A 2% Buyer Premium, calculated as 2% of the total bonus, will be added to the cost of this lease.


CONTACT INFORMATION


North Dakota

Rick Owings
Land Professional
(701) 328-1948
Email: rwowings@nd.gov

Allie Bement
Land Professional
(701) 328-1952
Email: abement@nd.gov

EnergyNet

John S. Munroe
VP of Engineering / Government Lease Sales
(303) 239-3990
Email: John.Munroe@energynet.com

Gus Rivero
Manager of Government Lease Sales
(806) 463-3616
Email: Gus.Rivero@energynet.com

Brandon Savage
Asst Manager of Government Lease Sales
(806) 463-3621
Email: Brandon.Savage@energynet.com


Bid History (All)

Bidder

Placed

Amount

Bidder #18

5/2/2017 9:19:41 AM

$982

Bidder #31

5/2/2017 9:20 AM

$981

Bidder #18

5/1/2017 12:05:31 PM

$980

Bidder #30

5/1/2017 11:21:27 PM

$979

Bidder #18

5/1/2017 12:05:31 PM

$879

Bidder #30

5/1/2017 11:20:57 PM

$878

Bidder #18

5/1/2017 12:05:31 PM

$789

Bidder #30

5/1/2017 11:20:19 PM

$788

Bidder #18

5/1/2017 12:05:31 PM

$707

Bidder #30

5/1/2017 6:31:29 PM

$706

Bidder #18

5/1/2017 12:05:31 PM

$637

Bidder #30

5/1/2017 6:31:17 PM

$636

Bidder #18

5/1/2017 12:05:31 PM

$605

Bidder #30

5/1/2017 6:31:06 PM

$604

Bidder #18

5/1/2017 12:05:31 PM

$577

Bidder #30

5/1/2017 6:30:55 PM

$576

Bidder #18

5/1/2017 12:05:31 PM

$503

Bidder #30

5/1/2017 5:37:40 PM

$502

Bidder #18

5/1/2017 12:05:31 PM

$487

Bidder #30

5/1/2017 5:37:14 PM

$486

Bidder #18

5/1/2017 12:05:31 PM

$440

Bidder #30

5/1/2017 5:36:48 PM

$439

Bidder #18

5/1/2017 12:05:31 PM

$390

Bidder #30

5/1/2017 5:36:28 PM

$389

Bidder #18

5/1/2017 12:05:31 PM

$300

Bidder #30

5/1/2017 5:35:49 PM

$299

Bidder #18

5/1/2017 12:05:31 PM

$230

Bidder #30

5/1/2017 5:34:51 PM

$229

Bidder #18

5/1/2017 12:05:31 PM

$160

Bidder #30

5/1/2017 5:34:43 PM

$159

Bidder #18

5/1/2017 12:05:31 PM

$101

Bidder #30

5/1/2017 5:34:32 PM

$100

Bidder #18

5/1/2017 12:05:31 PM

$52

Bidder #30

5/1/2017 5:34:18 PM

$51

Bidder #18

5/1/2017 12:05:31 PM

$50

Bidder #30

5/1/2017 11:54:57 AM

$49

Bidder #9

4/28/2017 4:39:14 PM

$20

Bidder #30

4/27/2017 9:52:40 AM

$3

Bidder #9

4/26/2017 5:35:47 PM

$2