Server Time (CST): Jan. 23, 7:13:04a

Tract 34

Toole County, MT
State of Montana DNRC Oil & Gas Lease Sale, March 1, 2022

AUCTION NOT YET STARTED

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

Tract:

Tract 34

Gross Acres:

640.00

Net Acres:

640.00

Time Remaining:

37D 3H 52M 56S

Start Time:

2/23/2022 10:06 AM MST / 11:06 AM CST

End Time:

3/1/2022 10:06 AM MST / 11:06 AM CST

Your Bid:

-

Highest Bid:

-

Starting Bid:

$1.75/acre

Bid Increment:

Variable

Total Cost at Starting Bid:

$1,167.40
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)

Legal Description:

Tract Details

Property/Well Name

Tract 34

County, State

Toole, MT

Legal Description

T34N, R2W
Sec. 16: ALL, BELOW THE BASE OF THE THREE FORKS FORMATION

Gross Acres

640.00

Net Acres

640.00

Royalty Rate

16.67%

Lease Term

10 Years

Rental/Acre (Per Year)

$1.50

MT Administrative Fee

$25.00

Buyer Premium

2.00%

Delayed Drilling Penalty (DDP)

Delayed Drilling Penalty Amount/Acre/Year
6th Year DDP (Delayed Drilling Penalty) $1.25
7th thru 10th Year DDP $2.50

Important Notice

This tract has received a nomination for $1.50/acre per year rental. If no other bids are received, this tract will be awarded to the nominator in accordance with the State of Montana DNRC rules and regulations.

Stipulations

Part or all of the tract is not state-owned surface.

Successful Bidder Notification

When the bids are accepted by the State of Montana DNRC, the successful bidder will be notified via email with closing instructions, including total amount due.

Payment must be made within two business days.

Buyer Premium

A 2% Buyer Premium, calculated as 2% of the total bid amount, will be added to the cost of this lease.

State of Montana DNRC Point of Contact

Mineral Leasing Specialist
Theresa Hossfeld

Email
THossfeld@mt.gov

Office
(406) 444-4576

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488