Server Time (CDT): Mar. 28, 8:43:23a

Tract 8

Cimarron County, OK
Oklahoma Commissioners of the Land Office Oil and Gas Lease Sale

SOLD

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

Please log in as a buyer in order to bid.

Tract:

Tract 8

Gross Acres:

160.25

Net Acres:

160.25

Time Remaining:

Auction has ended

Start Time:

4/16/2018 10:30 AM CDT

End Time:

5/16/2018 10:30 AM CDT

Minimum Bid:

$801.25

Total Tract Cost at Minimum Bid:

$1,137.78
(Bonus + Delay Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

Tract 8

County, State

Cimarron, OK

Legal Description

T05N, R04ECM
Sec. 3: Lots 1 and 2; S/2 NE/4

Mineral Rights %

100.00%

Net Acres

160.25

Gross Acres

160.25

Royalty

18.75%

Rental Due

$320.50

Advertisement Fee

To Be Determined by the CLO

Lease Term

3 Years

Additional Information

LEASE TERMS AND CONDITIONS

The Lease will be on a form prescribed by the CLO for a term of three years, and as may be extended, and will provide for 3/16ths royalty, and an annual delay rental of $1.00 per net acre to be paid in full before lease is issued, in addition to lease bonus. Click here to view a sample Oil and Gas Mining Lease.

Bids shall be for a cash bonus for each tract, but no bid of less than $5.00 per acre will be considered.

On the day of the sale, the high bidder will be invoiced for 25% of the bonus bid to be paid as earnest money, as well as the 2% Buyer Premium, payable to EnergyNet within 2 business days.

The successful bidder shall be liable for the full amount of the bid, all delay rentals and cost of advertising, as invoiced by the CLO directly after the leases are awarded and due in 30 days. The award date for this sale is estimated to be June 18, 2018.

Failure to comply with any of the terms and conditions of sale will be grounds for the cancellation of the award and the retention of the deposit of earnest money as liquidated damages at the election of the Secretary.

The Commissioners of the Land Office and the State of Oklahoma make no warranty of title and reserve the right to reject any and all bids.

NOTE: The advertisement fee is to be determined and not part of the Bid Page calculator but, shall be included in the invoice from the CLO.

OFFSET ACTIVITY

Drilling Permits from the last 365 days in Cimarron County, Oklahoma

Click here to view full screen
Click here to view full screen

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


Oklahoma CLO

Barbara Ogan
Assistant Director Minerals Management Division
(405) 521-4100
Email: Barbara.Ogan@clo.ok.gov

Ginny Rhodes
Minerals Management Specialist
(405) 521-4107
Email: Ginny.Rhodes@clo.ok.gov

EnergyNet

Gus Rivero
Vice President of Government Lease Sales
(806) 463-3616
Email: Gus.Rivero@energynet.com

Brandon Savage
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