Server Time (CDT): Jul. 25, 2:48:22p

Tract 134

Crane County, TX
University Lands Sealed Bid Sale No. 129, September 19, 2018

AUCTION CANCELLED

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 134

Gross Acres:

560.00

Net Acres:

560.00

Time Remaining:

Auction has ended

Start Time:

8/19/2018 10:00 AM CDT

End Time:

9/19/2018 10:00 AM CDT

Minimum Bid:

$375 per acre

Total Lease Cost at Minimum Bid:

$229,686.58
(Bonus + Agency Fees + Advanced Rental + Buyer Premium)

Legal Description:

Tract Details

Tract

Tract 134

County, State

Crane, TX

Legal Description

Block 31, Sec. 46: S2, NE, E2NW

Gross Acres

560.00

Net Acres

560.00

Delay Rental ($25/acre)

$14,000

Royalty

20%

Comments

Surface Note: Advantage Pipeline, 27.5 ac tank farm/pump station; Enterprise Crude, 2 ac. Truck station, Mercury Operating, 1.2 ac Central Tank Battery

Lease Terms and Conditions

Effective September 19th, 2018 with a primary term of three (3) years and a Royalty rate of 20.00%. 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.

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.

Buyer Premium

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

Tract Bonus Bid Buyer's Premium
<=$50,000 1.25%
>=$1,000,000 1.00%

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%.

University Lands Points of Contact

Land Director
Brian Owen

Email
BOwen@utsystem.edu

Office
(918) 232-3958-4753


Geoscience Director
David DeFelice

Email
DDeFelice@utsystem.edu

Office
(713) 352-3850


Associate Landman
Lisa Belue

Email
LBelue@utsystem.edu

Office
(432) 686-5479


Landman
Joseph Jarke

Email
JJarkeJr@utsystem.edu

Office
(432) 686-5478


Landman
Danielle Jeter

Email
LJeter@utsystem.edu

Office
(432) 686-5477

EnergyNet Points of Contact

VP of Government Lease Sales
Gus Rivero

Email
Gus.Rivero@energynet.com

Office
(806) 463-3616


Manager of Government Lease Sales
Brandon Savage

Email
Brandon.Savage@energynet.com

Office
(806) 463-3621


Government Lease Sales Analyst
Heather Fugger

Email
Heather.Fugger@energynet.com

Office
(806) 463-3619