SOLD
Registration Status:
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Your Bid Status:
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Tract:
MGL No. 67
Gross Acres:
735.00
Net Acres:
735.00
Time Remaining:
Auction has ended
Start Time:
12/5/2020 10:00 AM CST
End Time:
1/19/2021 10:00 AM CST
Minimum Bid:
$150 per acre
Total Tract Cost at Minimum Bid:
$113,264.39
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
IN THE TEXAS DEPARTMENT OF TRANSPORTATION SURVEY
Tract Details
Lease Name
MGL No. 67
County, State
Fort Bend, TX
Legal Description
IN THE TEXAS DEPARTMENT OF TRANSPORTATION SURVEY
PSF Lands (Y/N)
No
Gross Acres
735.00
Net Acres
735.00
Part or Comments
See Part/Comments below
Survey
TEXAS DEPARTMENT OF TRANSPORTATION
Royalty
25%
Group Name
Department of Transportation
Stipulations
TEXAS DEPARTMENT OF TRANSPORTATION
The royalty on all surveyed school land is 25% of the gross production of oil and/or gas. The primary term of the lease shall be three (3) years. The annual delay rental thereon is fixed at $10.00 per acre beginning with the second year of the lease. Click here to view lease form, which shall include the surface use restrictions listed in the Part/Comments section below.
ABBREVIATIONS AND DEFINITIONS
Resource Management Codes - Click here to view a detailed description
AC - Acre(s)
NAVI DIST - NAVIGATION DISTRICT: Indicates that all or a portion of the tract lies within the boundaries of a navigation district. Bidders should contact the applicable governing authority for the navigation district and the General Land Office for surface use restrictions.
POL - PORTION OUTSIDE LEASE: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas lease. Lease information is available in the mineral file located in the Archives and Records Division of the General Land Office.
POU - PORTION OUTSIDE UNIT: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas unit. Unit information is available in the mineral file located in the Archives and Records Division of the General Land Office.
PT - PART: Bidders should contact the General Land Office for further information.
TMLL - THREE MARINE LEAGUE LINE: Denotes tracts that are adjacent to the Three Marine League Line. These tracts have been submitted to the MMS for the coordination of acreage.
WFAL - Denotes tracts that are WEST of the FEDERAL ADMINISTRATION LINE.
Successful Bidder Notification
When the bids are accepted by the Texas General Land Office, the successful bidder will be notified via email with closing instructions, including total amount due.
Payment must be made within two business days.
Buyer Premium
Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:
Tract Bonus Bid | Buyer Premium |
---|---|
<=$50,000 | 1.25% |
>=$1,000,000 | 1.00% |
Buyer Premiums are only due for tracts which are sold and computed only on the winning bonus bid amount. The schedule offers a fixed rate of 1.25% up to a bonus bid value of $50,000 and then begins to slide linearly to a rate of 1.00% for a bonus bid value of $1,000,000. Bonus bids in excess of $1,000,000 are computed at a fixed rate of 1.00%.
Texas GLO Points of Contact
Landman
Jesse Arellano
Office
(512) 475-1499
Email
Jesse.Arellano@glo.texas.gov
Director Energy Resources
Robert Hatter
Office
(512) 475-1542
EnergyNet Points of Contact
Government Resources
Email
government@energynet.com
Office
(877) 351-4488
Part/Comments
BEING A TRACT OF 735 ACRES +/- , SAID TRACT BEING A PART OF A DEED FROM TEXAS DEPARTMENT OF CRIMINAL JUSTICE TO THE TEXAS DEPARTMENT OF PUBLIC TRANSPORTATION DATED APRIL 9, 1991 AND RECORDED IN THE DEED RECORDS OF FORT BEND COUNTY, TEXAS IN VOL. 2329, PG. 50, AND A MINERAL DEED FROM THE TEXAS DEPARTMENT OF PUBLIC TRANSPORTATION TO THE TEXAS DEPARTMENT OF CRIMINAL JUSTICE DATED JULY 1, 1991 AND RECORDED IN THE OFFICIAL PUBLIC RECORDS OF FORT BEND COUNTY, TEXAS, INSTRUMENT 9776299 AND VOL. 3077, PG. 64. (FOR A PLAT EMAIL jesse.arellano@glo.texas.gov OR CALL 512-475-1499). NOTE: DRILLING OPERATIONS FOR THIS LEASE TRACT ARE RESTRICTED TO THOSE DRILL SITES, DESCRIBED IN A DEED TITLED DRILL SITE EASEMENTS AND FILED IN THE OFFICIAL PUBLIC RECORDS, NO. 2009060620 OF FORT BEND COUNTY, TEXAS, FILED JUNE 17, 2009 AS WELL AS ANY ACCESS EASEMENTS PERTAINING TO THE SAME FILED OF RECORD IN FORT BEND COUNTY, TEXAS.