Server Time (CDT): Mar. 29, 8:33:16a

OG1900005

Dunn County, ND
North Dakota Oil and Gas Lease Sale, February 5, 2019

SOLD

Property Schedule

Due Diligence Began 12/26/2018
Bidding Started 1/29/2019
Bidding Ended 2/5/2019 9:08 AM

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

OG1900005

Gross Acres:

160.00

Net Acres:

80.00

Time Remaining:

Auction has ended

Start Time:

1/29/2019 9:08 AM CST

End Time:

2/5/2019 9:08 AM CST

Your Bid:

-

Highest Bid:

$301/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$24,971.60
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG1900005

County, State

Dunn, ND

Legal Description

T145N, R92W
Sec. 29: NW4

Gross Acres

160.00

Net Acres

80.00

Royalty Rate

3/16th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$400.00

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 February 5, 2019.
  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

H: Indicates leases shall contain a stipulation indicating a historical resource has been identified on this tract and may need to be protected. At least 20 days prior to any surface disturbance, our lessee shall notify the Department of Trust Lands of the intended surface disturbance. The Commissioner of University and School Lands will consider advice from the Historical Society and Geological Survey to determine what, if any, protection shall be necessary under Sec. 85-06-06-12 of the Board of University and School Lands' rules and regulations.

P: Indicates leases shall contain a stipulation indicating a paleontological resource has been identified on this tract and may need to be protected. At least 20 days prior to any surface disturbance, our lessee shall notify the Department of Trust Lands of the intended surface disturbance. The Commissioner of University and School Lands will consider advice from the Historical Society and Geological Survey to determine what, if any, protection shall be necessary under Sec. 85-06-06-12 of the Board of University and School Lands' rules and regulations.

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 #9

2/5/2019 9:05:49 AM

$301

Bidder #31

2/4/2019 2:59:54 PM

$300

Bidder #9

2/5/2019 9:05:40 AM

$249

Bidder #31

2/4/2019 2:59:54 PM

$200

Bidder #9

2/4/2019 6:06:08 PM

$199

Bidder #31

2/4/2019 2:59:54 PM

$170

Bidder #9

2/4/2019 6:06:01 PM

$169

Bidder #31

2/4/2019 2:59:54 PM

$130

Bidder #9

2/4/2019 6:04:15 PM

$129

Bidder #31

2/4/2019 2:59:54 PM

$70


View 4 earlier bids...