Server Time (CDT): Jun. 18, 12:14:31p

OG1900203

Ward County, ND
North Dakota Oil and Gas Lease Sale, May 7, 2019

AUCTION SOLD

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

OG1900203

Gross Acres:

120.00

Net Acres:

60.00

Time Remaining:

Auction has ended

Start Time:

4/30/2019 3:08 PM CDT

End Time:

5/7/2019 3:08 PM CDT

Your Bid:

-

Highest Bid:

$2/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Lease Cost at Highest Bid:

$432.40
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG1900203

County, State

Ward, ND

Legal Description

T153N, R87W
Sec. 13: N2NE4, SW4NE4

Gross Acres

120.00

Net Acres

60.00

Royalty Rate

1/6th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$300.00

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 May 7, 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.

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 #14

5/7/2019 2:50:06 PM

$2