Server Time (CDT): Aug. 3, 9:23:29a

OG2000257

McKenzie County, ND
North Dakota Oil and Gas Lease Sale, August 4, 2020

AUCTION IS ACTIVE

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Tract:

OG2000257

Gross Acres:

160.00

Net Acres:

160.00

Time Remaining:

1D 7H 56M 31S

Start Time:

7/28/2020 5:20 PM CDT

End Time:

8/4/2020 5:20 PM CDT

Your Bid:

-

Highest Bid:

-

Starting Bid:

$2/acre

Bid Increment:

$1

Total Lease Cost at Starting Bid:

$1,136.40
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG2000257

County, State

McKenzie, ND

Legal Description

T148N, R102W
Sec. 36: NE4

Gross Acres

160.00

Net Acres

160.00

Royalty Rate

3/16th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$800.00

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 August 4, 2020.
  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.

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.

S: This tract is within an area identified as essential wildlife habitat. The lessee or lessee's operator must contact the Commissioner prior to any surface activity. Operational mitigation measures to reduce impact, including timing restrictions, location adjustments and reduced or restricted surface occupancy may be required.

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
Rick Owings

Email
rwowings@nd.gov

Office
(701) 328-1922

Minerals Management Director
Dave Shipman

Email
dashipman@nd.gov

Office
(701) 328-1949

EnergyNet Points of Contact

Government Resources
Email
government@energynet.com

Office
(877) 351-4488