Server Time (CDT): Jul. 23, 10:42:01p

OG2100012

Burke County, ND
North Dakota Oil and Gas Lease Sale, May 4, 2021

SOLD

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

OG2100012

Gross Acres:

32.50

Net Acres:

32.50

Time Remaining:

Auction has ended

Start Time:

4/27/2021 8:10 AM MDT / 9:10 AM CDT

End Time:

5/4/2021 8:10 AM MDT / 9:10 AM CDT

Your Bid:

-

Highest Bid:

$257/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$8,775.58
(Bonus + Agency Fees + Advanced Rental + 3% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG2100012

County, State

Burke, ND

Legal Description

T159N, R93W
Sec. 36: LOT 5

Gross Acres

32.50

Net Acres

32.50

Royalty Rate

1/6th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$162.50

ND Administrative Fee

$10.00

Buyer Premium

3.00%

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 4, 2021.
  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

R: Notwithstanding any other provisions of this lease to the contrary, it is agreed that Lessee has no right, without first obtaining the written consent of Lessor, to drill any well from the surface of said riverbed or lakebed or to use the surface of the riverbed or lakebed for any purpose.

Lessor does not warrant its title to the acreage leased by this lease.

Administrative Code 85-06-01-01.3. A nomination for a tract containing a body of water may include up to a section of land if the tract cannot reasonably be subdivided by quarter section or half section. The tract acreage, including islands, may be offered and described as "more or less" and may be adjusted by the board within each quarter section.

If, during any time prior to expiration of the lease, it is determined by a court or by Lessor that the acreage is more than that set forth in this lease, then Lessee will pay Lessor an additional bonus for each additional acre. Such bonus will be the same per acre bonus as that paid by Lessee to obtain this lease.

If, during any time prior to expiration of the lease, it is determined by a court or by Lessor that the Lessor owns less acreage than that set forth in this lease, then Lessor will refund to Lessee the proportionate per acre bonus paid for this lease.

W: The land covered by this oil and gas lease lies beneath an area identified as essential wildlife habitat and development may be subject to additional procedures as part of an Application to Drill. The surface is not managed by the Department of Trust Lands.

Seller Acquisition Agreement(s)

The North Dakota Department of Trust Lands Forms and Policies may be found at www.land.nd.gov/surface-minerals-management/mineral-auctions/forms-and-policies.

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 3% Buyer Premium, calculated as 3% of the total bonus, will be added to the cost of this lease.

North Dakota Department of Trust Lands Point of Contact

Trust Lands Minerals Department

Email
dtlminerals@nd.gov

Office
(701) 328-2800

EnergyNet Points of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #193

5/4/2021 9:09:58 AM

$257

Bidder #871

5/4/2021 9:09:52 AM

$256

Bidder #180

5/4/2021 9:09:39 AM

$250

Bidder #927

5/4/2021 9:09:40 AM

$65

Bidder #180

5/4/2021 9:09:39 AM

$5

Bidder #871

5/4/2021 9:09:15 AM

$4