Server Time (CDT): Jun. 13, 11:50:44a

CLO Tract 117

Cimarron County, OK
State of Oklahoma Oil, Gas and Helium Sealed Bid Lease Sale, June 23, 2021

AUCTION IS ACTIVE

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Registration Status:

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Tract:

CLO Tract 117

Gross Acres:

160.00

Net Acres:

160.00

Time Remaining:

9D 22H 39M 16S

Start Time:

5/24/2021 10:30 AM CDT

End Time:

6/23/2021 10:30 AM CDT

Minimum Bid:

$800

Total Lease Cost at Minimum Bid:

$1,136
(Bonus + Delay Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

CLO Tract 117

County, State

Cimarron, OK

Legal Description

T06N, R05E CM
Sec. 32 SE/4

Mineral Rights %

100.00%

Net Acres

160.00

Gross Acres

160.00

Royalty

3/16ths

Rental Due

$320

Advertisement Fee

To Be Determined by CLO

Lease Term

3

CLO Terms & Conditions of Sale

TERMS AND CONDITIONS OF SALE: The Lease will be on a form prescribed by the CLO for a term of three years, and as may be extended, and will provide for 3/16ths royalty, and an annual delay rental of $1.00 per net acre to be paid in full before lease is issued, in addition to lease bonus. Bids shall be for a cash bonus for each tract, but no bid of less than $5.00 per acre will be considered. The successful bidder shall be liable for the full amount of the bid, all delay rentals and cost of advertising. Full payment is due 30 days from the date of acceptance of the bid.

Click here to view the lease form.

Failure to comply with any of the terms and conditions of sale will be grounds for the cancellation of the award and the retention of the deposit of earnest money as liquidated damages at the election of the Secretary.

The Commissioners of the Land Office and the State of Oklahoma make no warranty of title and reserve the right to reject any and all bids.

Important Notice Regarding Lessee Name

Please note that you must bid in the name you want on your lease.

Once the auction is closed, an assignment must be submitted for any name changes.

Please contact the Commissioners of the Land Office or view the website for consent to assignment procedures.

www.clo.ok.gov/services/minerals-leasing

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.

Commissioners of the Land Office Point of Contact

Dan Whitmarsh
Director, Minerals Management Division

Office
(405) 521-4098

CLO Website https://CLO.OK.gov

EnergyNet Point of Contact

Government Resources

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Office
(877) 351-4488