Server Time (CST): Dec. 3, 10:21:29a

OG2100102

Divide County, ND
North Dakota Oil and Gas Lease Sale, November 2, 2021

SOLD

Registration Status:

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Your Bid Status:

You have not bid on this lot

Tract:

OG2100102

Gross Acres:

163.50

Net Acres:

81.75

Time Remaining:

Auction has ended

Start Time:

10/26/2021 8:18 AM MDT / 9:18 AM CDT

End Time:

11/2/2021 8:18 AM MDT / 9:18 AM CDT

Your Bid:

-

Highest Bid:

$178/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$15,406.80
(Bonus + Agency Fees + Advanced Rental + 3% Buyer Premium)

Legal Description:

Tract Details

Lease No.

OG2100102

County, State

Divide, ND

Legal Description

T160N, R102W
Sec. 2: S2NE4, LOTS 1,2

Gross Acres

163.50

Net Acres

81.75

Royalty Rate

3/16th

Lease Term

5 Years (Paid Up)

Rental/Acre (Per Year)

$1.00

Rental Due At Closing

$408.75

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://www.land.nd.gov/sites/www/files/documents/Minerals/rules.pd).
  3. The burden of due diligence is the bidder's responsibility prior to any auction.
  4. The lease effective date will be November 2, 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 buyer'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.

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 #312

11/2/2021 8:38:52 AM

$178

Bidder #289

11/2/2021 9:17:56 AM

$177

Bidder #312

11/2/2021 8:38:52 AM

$153

Bidder #289

11/2/2021 9:16:58 AM

$152

Bidder #312

11/2/2021 8:38:52 AM

$151

Bidder #289

11/2/2021 9:16:50 AM

$150

Bidder #312

11/2/2021 8:38:52 AM

$129

Bidder #289

11/2/2021 9:16:31 AM

$128

Bidder #312

10/29/2021 10:23:38 AM

$127

Bidder #289

11/1/2021 3:11:31 PM

$126


View 12 earlier bids...