Server Time (CDT): Mar. 28, 6:41:18a

OG1800134

Golden Valley County, ND
North Dakota Oil and Gas Lease Sale, May 1, 2018

SOLD

Property Schedule

Due Diligence Began 3/13/2018
Bidding Started 4/24/2018
Bidding Ended 5/1/2018 11:42 AM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Tract:

OG1800134

Gross Acres:

202.69

Net Acres:

101.35

Time Remaining:

Auction has ended

Start Time:

4/24/2018 11:42 AM CDT

End Time:

5/1/2018 11:42 AM CDT

Your Bid:

-

Highest Bid:

$9/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$1,447.14
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG1800134

County, State

Golden Valley, ND

Legal Description

T140N, R105W
Sec. 6: LOTS 3,4,5,6,11,12

Gross Acres

202.69

Net Acres

101.35

Royalty Rate

3/16th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$506.75

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 1, 2018.
  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 Golden Valley County, North Dakota

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Drilling Permits from the last 365 days in Golden Valley 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

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

EnergyNet

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

Heather Fugger
Government Lease Sales Analyst
(806) 463-3619
Email: Heather.Fugger@energynet.com


Bid History (Top 10)

Bidder

Placed

Amount

Bidder #20

5/1/2018 11:41:59 AM

$9

Bidder #13

5/1/2018 11:41:10 AM

$8

Bidder #31

5/1/2018 9:18:27 AM

$4