AUCTION CANCELLED
Registration Status:
Please log in as a buyer to view registration status.
Your Bid Status:
Please log in as a buyer in order to bid.
Tract:
MGL No. 40
Gross Acres:
360.00
Net Acres:
360.00
Time Remaining:
Auction has ended
Start Time:
3/4/2022 9:00 AM CST
End Time:
4/5/2022 10:00 AM CDT
Minimum Bid:
$400 per acre
Total Tract Cost at Minimum Bid:
$147,924.38
(Bonus + Agency Fees + Buyer Premium)
Legal Description:
3A IN THE CANADIAN RIVER SURVEY TRACT 3-A IS BOUND ON THE WEST BY A NORTHERLY EXTENSION OF THE EAST LINE OF SECTION 1, BLOCK 46, H. & T.C. RY. CO. SURVEY, BOUND ON THE NORTH BY THE T.E. WHITE SURVEY, A-710, BOUND ON THE EAST BY THE WEST SURVEY LINES OF SECTION 221, BLOCK 42, A-197, AND SECTION 222, BLOCK 42, A-944, AND BOUND ON THE SOUTH BY THE NORTH SURVEY LINE OF THE D.D. PAYNE SURVEY, BLOCK H, A-1065, AND NORTH AND WEST SURVEY LINES OF THE J.A. MORRISON SURVEY NO. 11, BLOCK H, A-1200.
Tract Details
Lease Name
MGL No. 40
County, State
Roberts, TX
Legal Description
3A IN THE CANADIAN RIVER SURVEY TRACT 3-A IS BOUND ON THE WEST BY A NORTHERLY EXTENSION OF THE EAST LINE OF SECTION 1, BLOCK 46, H. & T.C. RY. CO. SURVEY, BOUND ON THE NORTH BY THE T.E. WHITE SURVEY, A-710, BOUND ON THE EAST BY THE WEST SURVEY LINES OF SECTION 221, BLOCK 42, A-197, AND SECTION 222, BLOCK 42, A-944, AND BOUND ON THE SOUTH BY THE NORTH SURVEY LINE OF THE D.D. PAYNE SURVEY, BLOCK H, A-1065, AND NORTH AND WEST SURVEY LINES OF THE J.A. MORRISON SURVEY NO. 11, BLOCK H, A-1200.
PSF Lands (Y/N)
Yes
Gross Acres
360.00
Net Acres
360.00
Part or Comments
TRACT 3-A IS BOUND ON THE WEST BY A NORTHERLY EXTENSION OF THE EAST LINE OF SECTION 1, BLOCK 46, H. & T.C. RY. CO. SURVEY, BOUND ON THE NORTH BY THE T.E. WHITE SURVEY, A-710, BOUND ON THE EAST B THE WEST SURVEY LINES OF SECTION 221, BLOCK 42, A-197, AND SECTION 222, BLOCK 42, A-944, AND BOUND ON THE SOUTH BY THE NORTH SURVEY LINE OF THE D.D. PAYNE SURVEY, BLOCK H, A-1065, AND NORTH AND WEST SURVEY LINES OF THE J.A. MORRISON SURVEY NO. 11, BLOCK H, A-1200.
Survey
CANADIAN RIVER
Royalty
25%
Group Name
Rivers, Creeks, and Bayous
Stipulations
RIVERS, CREEKS, AND BAYOUS
The royalty on all rivers, creeks, lakes and bayous is 25% of the gross production of oil and/or gas.
The primary term of the lease shall be three (3) years. The annual delay rental thereon is fixed at $10.00 per acre beginning with the second year of the lease. Click here to view lease form.
ABBREVIATIONS AND DEFINITIONS
Resource Management Codes - Click here to view a detailed description
AC - Acre(s)
NAVI DIST - NAVIGATION DISTRICT: Indicates that all or a portion of the tract lies within the boundaries of a navigation district. Bidders should contact the applicable governing authority for the navigation district and the General Land Office for surface use restrictions.
POL - PORTION OUTSIDE LEASE: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas lease. Lease information is available in the mineral file located in the Archives and Records Division of the General Land Office.
POU - PORTION OUTSIDE UNIT: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas unit. Unit information is available in the mineral file located in the Archives and Records Division of the General Land Office.
PT - PART: Bidders should contact the General Land Office for further information.
TMLL - THREE MARINE LEAGUE LINE: Denotes tracts that are adjacent to the Three Marine League Line. These tracts have been submitted to the MMS for the coordination of acreage.
WFAL - Denotes tracts that are WEST of the FEDERAL ADMINISTRATION LINE.
Successful Bidder Notification
When the bids are accepted by the Texas General Land Office, 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
Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:
Tract Bonus Bid | Buyer 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%.
Texas GLO Point of Contact
EnergyNet Points of Contact