Server Time (CDT): Mar. 28, 6:36:03a

OG1900390

Bowman County, ND
North Dakota Oil and Gas Lease Sale, August 6 - 7, 2019

AUCTION CANCELLED

Property Schedule

Due Diligence Began 6/27/2019
Bidding Started 7/30/2019
Bidding Ended 8/6/2019 10:52 AM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Tract:

OG1900390

Gross Acres:

120.89

Net Acres:

60.45

Time Remaining:

Auction has ended

Start Time:

7/30/2019 10:52 AM CDT

End Time:

8/6/2019 10:52 AM CDT

Your Bid:

-

Highest Bid:

-

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Starting Bid:

$435.57
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG1900390

County, State

Bowman, ND

Legal Description

T129N, R103W
Sec. 4: SE4NW4, LOTS 3,4

Gross Acres

120.89

Net Acres

60.45

Royalty Rate

1/6th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$302.25

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 (https://www.land.nd.gov/sites/www/files/documents/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 August 6, 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 10 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, will be added to the cost of this lease.

North Dakota Department of Trust Lands Point of Contact

Land Professional
Allie Nagel, CPL

Email
allie.nagel@nd.gov

Office
(701) 328-1952

EnergyNet Points of Contact

VP, Government Resources
Gus Rivero

Email
Gus.Rivero@energynet.com

Office
(806) 463-3616


Managing Director, Government Resources
Brandon Savage

Email
Brandon.Savage@energynet.com

Office
(806) 463-3621


Transaction Manager
Heather Fugger

Email
Heather.Fugger@energynet.com

Office
(806) 463-3619


Junior Strategic Analyst
Anastasia Rademaekers

Email
Anastasia.Rademaekers@energynet.com

Office
(806) 463-3635