Server Time (CDT): Jun. 13, 12:44:14p

DCAM Tract 1

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

AUCTION IS ACTIVE

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Tract:

DCAM Tract 1

Gross Acres:

9.93

Net Acres:

9.93

Time Remaining:

9D 21H 45M 46S

Start Time:

5/24/2021 10:30 AM CDT

End Time:

6/23/2021 10:30 AM CDT

Minimum Bid:

$49.65

Total Lease Cost at Minimum Bid:

$70.50
(Bonus + Delay Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Tract No.

DCAM Tract 1

County, State

Canadian, OK

Legal Description

T13N, R08W IM
Sec. 25 A part of Lot 2 described as follows: Beginning at a point whence the NE corner of said Section 25, bears North 64 degrees 44' 23" East a distance of 5,635.49 feet, and whence the North Quarter corner of said Section 25 bears North 45 degrees 30' 19" East, a distance of 3,431.34 feet
thence, South 66 degrees 23' 43" East a distance of 468.43 feet
thence, South 74 degrees 49' 33" East, a distance of 391.69 feet
thence, South 77 degrees 30' 00" East, a distance of 280.00 feet to an existing fence line
thence, along said existing fence line, South 02 degrees 43' 49" West a distance of 529.30 feet to a point on the Northerly bank of the North Canadian River
thence, along said Northerly bank the following five courses: 1) thence, North 89 degrees 55' 14" West, a distance of 284.55 feet
2) thence, North 64 degrees 59' 36" West, a distance of 122.62 feet
3) thence, North 49 degrees 26' 16" West, a distance of 164.58 feet
4) thence, North 34 degrees 49' 02" West, a distance of 653.61 feet
5) thence, North 62 degrees 35' 07" West, a distance of 227.90 feet
thence, departing from said Northerly bank, North 27 degrees 24' 53" East, a distance of 88.56 feet to the point of beginning. Leasing 9.93 acres, more or less. Also less and except the accretion and riparian rights lying outside of Section 25-13N-08W IM. Any use of the surface lands covered herein shall require the permission of the lessor.

Mineral Rights %

100.00%

Net Acres

9.93

Gross Acres

9.93

Royalty

3/16ths

Rental Due

$19.86

Advertisement Fee

To Be Determined by DCAM

Lease Term

3

DCAM 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 Office of Management and Enterprise Services, Division of Capital Assets Management, 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.

NOTE: These leases do not include and specifically exclude the right to conduct exploration or production activities of any kind on the surface of the lands covered herein.

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

Email
government@energynet.com

Office
(877) 351-4488