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OG1700360

Dunn County, ND
North Dakota Oil and Gas Lease Sale

AUCTION CANCELLED

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

OG1700360

Gross Acres:

160.00

Net Acres:

160.00

Time Remaining:

Auction has ended

Start Time:

4/25/2017 12:32 PM CDT

End Time:

5/2/2017 12:32 PM CDT

Your Bid:

-

Highest Bid:

-

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Starting Bid:

$1,136.40
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG1700360

County, State

Dunn, ND

Legal Description

T146N, R91W
Sec. 36: NW4

Gross Acres

160.00

Net Acres

160.00

Royalty Rate

3/16th

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

PROVISION

P: Indicates leases shall contain a stipulation indicating a paleontological resource has been identified on this tract and may need to be protected. At least 20 days prior to any surface disturbance, our lessee shall notify the Department of Trust Lands of the intended surface disturbance. The Commissioner of University and School Lands will consider advice from the Historical Society and Geological Survey to determine what, if any, protection shall be necessary under Sec. 85-06-06-12 of the Board of University and School Lands' rules and regulations.

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 Dunn County, North Dakota

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

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Drilling Rigs on Location in Dunn 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