Tract 179 comprises 12 individual parcels of land as described above and containing 5,800.000 acres and will be bid upon as a Lot, but will consist of as many separate lease agreements as parcels of land described. The minimum consideration that will be accepted for this Tract will be a cash bonus of $1,500.00 per acre, plus the delay rental fee of $25 per acre and the legally required 1.5% special fee as described in the Texas Education code, Section 66.66. Each parcel of this Tract shall constitute a separate leased area and will be subject to all terms and conditions of the Oil & Gas Lease, Form 48.

Effective September 20th, 2017 with a primary term of three (3) years and a Royalty rate of 25%. Click here to view lease form.

These Leases are subject to any and all existing pipeline, road or utility easements, surface or commercial agreements, and encumbrances of any nature affecting the Premises or any part thereof, and the rights of the parties thereunder, which are evidenced by documentation filed of record in the Official Public Records of the County where the Premises are located as of the Effective Date or that a true and correct survey would reveal.

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Completions from the last 365 days in Andrews and Gaines County, Texas

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Drilling Permits from the last 365 days in Andrews and Gaines County, Texas

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Drilling Rigs on location in Andrews and Gaines County, Texas

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Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:

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%.

When the bids are accepted by the University Lands of Texas, the successful bidder will be notified via email with closing instructions, including total amount due.