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University Lands Sealed Bid Sale No. 128, September 20, 2017

Tract 179

Andrews and Gaines Counties, TX
Gross Acres: 6,000.00; Net Acres: 6,000.00

Current status

This sale has closed and sold

Sealed Bids Due: September 20th, 2017 @ 10AM

Bid info at a glance

Minimum Bid: $1,500 per acre

Buyer Premium: 1.00% - 1.25% of Total Bid

University Lands Sale Fee: 1.50% of Total Bid

Total lease cost at minimum bid: $9,375,000 (Bonus + Agency Fees + Advance Rental + Buyer Premium)

Locator Map

Andrews, Gaines, TX

Tract Details

Tract Tract 179
County, State Andrews and Gaines Counties, TX
Legal Description Block 6, Sec. 4: N2 & SE
Block 6, Sec. 5: N2 & SW & S2SE & NESE
Block 6, Sec. 5: NWSE (Below 11510')
Block 6, Sec. 6: All
Block 6, Sec. 7: All
Block 6, Sec. 8: All
Block 6, Sec. 9: All
Block 6, Sec. 10: All
Block 6, Sec. 20: All
Block 6, Sec. 21: E2, E2E2W2(Below 11450')
Block 6, Sec. 21: W2W2 & W2E2W2
Block 6, Sec. 22: S2 & W2NW
Gross Acres 6,000.00
Net Acres 6,000.00
Delay Rental ($25/acre) $150,000
Royalty 25%
Depth Restrictions See Above


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.



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:

Tract Bonus BidBuyer's Premium

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.


University Lands

Brian Owen
Land Director
(918) 232-3958-4753

Lisa Belue
Sr. Land Associate
(432) 686-5479

David DeFelice
Geoscience Director (Technical Overview)
(713) 352-3850


John S. Munroe
VP of Engineering / Government Lease Sales
(832) 403-3122

Gus Rivero
Manager of Government Lease Sales
(806) 463-3616

Brandon Savage
Assistant Manager of Government Lease Sales
(806) 463-3621