Server Time (CDT): Oct. 21, 9:07:37a

Tract 208

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

AUCTION CANCELLED

Registration Status:

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Your Bid Status:

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Tract:

Tract 208

Gross Acres:

161.825

Net Acres:

161.825

Time Remaining:

Auction has ended

Schedule Status:

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

Minimum Bid:

$750 per acre

Total Lease Cost at Minimum Bid:

$128,729.22
(Bonus + Agency Fees + Advanced Rental + Buyer Premium)

Legal Description:

Tract Details

Tract

Tract 208

County, State

Andrews, TX

Legal Description

Block 8, Sec. 16: SW (Below 11360')

Gross Acres

161.825

Net Acres

161.825

Delay Rental ($25/acre)

$4,045.63

Royalty

25%

Depth Restrictions

Below 11360'

Additional Information

LEASE TERMS AND CONDITIONS

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

This Lease is 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.

PROSPECTIVE INTERVALS

OFFSET ACTIVITY

Completions from the last 365 days in Andrews County, Texas

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

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Drilling Rigs on location in Andrews County, Texas

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BUYER PREMIUM

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

Tract Bonus BidBuyer's Premium
<=$50,0001.25%
>=$1,000,0001.00%

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


CONTACT INFORMATION


University Lands

Brian Owen
Land Director
(918) 232-3958-4753
Email: BOwen@utsystem.edu

Lisa Belue
Sr. Land Associate
(432) 686-5479
Email: LBelue@utsystem.edu

David DeFelice
Geoscience Director (Technical Overview)
(713) 352-3850
Email: DDeFelice@utsystem.edu

EnergyNet

John S. Munroe
VP of Engineering / Government Lease Sales
(832) 403-3122
Email: John.Munroe@energynet.com

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