Server Time (CDT): Sep. 22, 2:48:40a

Tract 1

Ward County, TX
University Lands Sealed Bid Sale No. 130, October 13, 2021

AUCTION NOT YET STARTED

Registration Status:

Please log in as a buyer to view registration status.

Tract:

Tract 1

Gross Acres:

3,775.275

Net Acres:

3,775.275

Time Remaining:

21D 7H 11M 20S

Start Time:

10/6/2021 10:00 AM CDT

End Time:

10/13/2021 10:00 AM CDT

Minimum Bid:

$1,500 per acre

Total Lease Cost at Minimum Bid:

$5,898,867.20
(Bonus + Agency Fees + Advanced Rental + Buyer Premium)

Legal Description:

Tract Details

Tract

Tract 1

County, State

Ward, TX

Legal Description

Block 16, Sec. 3: S2NW,W2W2SWNE
Block 16, Sec. 3: SENE,E2E2SWNE
Block 16, Sec. 3: W2E2SWNE,E2W2SWNE (Below 4,100')
Block 16, Sec. 4: ALL
Block 16, Sec. 5: ALL
Block 16, Sec. 7: ALL
Block 16, Sec. 8: S2,NE,E2NW
Block 16, Sec. 9: E2
Block 16, Sec. 10: E2
Block 16, Sec. 11: N2,SE

Gross Acres

3,775.275

Net Acres

3,775.275

Delay Rental ($25/acre)

$94,381.88

Royalty

25%

Depth Restrictions

See Above

Lease Terms and Conditions

Effective October 13, 2021 with a primary term of three (3) years and a Royalty rate of 25%. Click here to view lease form.

This Lease is subject to any and all existing pipeline, road or utility easements, surface or commercial agreements, and encumbrances of any nature affecting the Premises or any part thereof, and the rights of the parties thereunder, which are evidenced by documentation filed of record in the Official Public Records of the County where the Premises are located as of the Effective Date or that a true and correct survey would reveal.

Successful Bidder Notification

When the bids are accepted by the University Lands of Texas, the successful bidder will be notified via email with closing instructions, including total amount due.

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's 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%.

University Lands Points of Contact

Brian Owen | Danielle Jeter | Lisa Belue

Email
UL_LandMinerals@utsystem.edu

Office
(432) 684-4404

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488