AUCTION CANCELLED
Registration Status:
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Your Bid Status:
You have not bid on this lot
Tract:
Tract #49
App #5101
Gross Acres:
320.00
Net Acres:
320.00
Time Remaining:
Auction has ended
Start Time:
6/1/2022 10:36 AM MDT / 11:36 AM CDT
End Time:
6/7/2022 10:36 AM MDT / 11:36 AM CDT
Your Bid:
-
Highest Bid:
-
Starting Bid:
$1.75/acre
Total Cost at Starting Bid:
$596.20
(Bonus + Agency Fees + Advanced Rental + 2% Buyer Premium)
Legal Description:
T32N R8E
Sec. 32 W2
Part or all of the tract is not state-owned surface.
Tract Details
Property/Well Name
Tract #49
App #5101
County, State
Hill, MT
Legal Description
T32N R8E
Sec. 32 W2
Part or all of the tract is not state-owned surface.
Gross Acres
320.00
Net Acres
320.00
Royalty Rate
16.67%
Lease Term
10 Years
Rental/Acre (Per Year)
$1.50
MT Administrative Fee
$25.00
Buyer Premium
2.00%
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
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 |
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
EnergyNet Point of Contact