Server Time (CDT): Mar. 28, 5:29:34p

OG1800247

Dunn County, ND
North Dakota Oil and Gas Lease Sale, November 6, 2018

SOLD

Property Schedule

Due Diligence Began 9/19/2018
Bidding Started 10/30/2018
Bidding Ended 11/6/2018 10:48 AM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Tract:

OG1800247

Gross Acres:

159.28

Net Acres:

159.28

Time Remaining:

Auction has ended

Start Time:

10/30/2018 11:48 AM CDT

End Time:

11/6/2018 10:48 AM CST

Your Bid:

-

Highest Bid:

$81/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$13,966.11
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG1800247

County, State

Dunn, ND

Legal Description

T149N, R91W
Sec. 12: MISSOURI RIVER IN SW4

Gross Acres

159.28

Net Acres

159.28

Royalty Rate

3/16th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$796.40

ND Administrative Fee

$10.00

Buyer Premium

2.00%

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 November 6, 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.

Provision

W: This tract is within an area identified as essential wildlife habitat, however the Department of Trust Lands does not manage the surface.

R: Indicates that leases will contain an addendum stipulating that no surface occupancy will be allowed.

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 plus rental, will be added to the cost of this lease.

North Dakota Department of Trust Lands Point of Contact

Admin Officer
Susie Entzel

Email
sentzel@nd.gov

Office
(701) 328-1948

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

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #6

11/5/2018 3:50:29 PM

$81

Bidder #21

11/6/2018 10:47:57 AM

$80

Bidder #6

11/5/2018 3:50:29 PM

$56

Bidder #7

11/6/2018 10:47:48 AM

$55

Bidder #6

11/5/2018 3:50:29 PM

$26

Bidder #21

11/6/2018 10:47:47 AM

$25

Bidder #6

11/5/2018 3:50:29 PM

$18

Bidder #32

11/6/2018 10:43:11 AM

$17

Bidder #6

11/5/2018 3:50:29 PM

$2