Server Time (CDT): Oct. 3, 1:43:47p

Tract #3

Fall River County, SD
South Dakota Oil and Gas Lease Sale, October 6, 2022

AUCTION IS ACTIVE

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Property Schedule

Due Diligence Began 8/24/2022
Bidding Started 9/29/2022
Bidding Ends 10/6/2022 11:10 AM

Registration Status:

Please log in as a buyer to view registration status.

Your Bid Status:

You have not bid on this lot

Tract:

Tract #3

Acres:

640.00

Time Remaining:

2D 21H 26M 13S

Start Time:

9/29/2022 8:10 AM CDT

End Time:

10/6/2022 11:10 AM CDT

Your Bid:

-

Highest Bid:

$2/acre

Starting Bid:

$2/acre

Bid Increment:

$1

Total Cost at Highest Bid:

$1,958.40
(Bonus + Agency Fees + Advanced Rental + 3% Buyer Premium)

Legal Description:

Tract Details

Tract No.

Tract #3

County, State

Fall River, SD

Legal Description

T9S, R1E,
Sec. 16: ALL

Acres

640.00

Royalty Rate

1/8th

Rental/Acre (Per Year)

$1.00

Buyer Premium

3.00%

Lease Term

5

Important Notices Pertaining to South Dakota Office of School and Public Lands 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. Leases are to be executed in conformity with SDCL Chapter 5-7 and all applicable sections thereunder and the rules and regulations promulgated by the Commission of School and Public Lands (https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&Statute=5-7).
  3. The burden of due diligence is the bidder's responsibility prior to any auction.
  4. South Dakota Office of School and Public Lands reserves the right to reject any lease offer.
  5. The lease effective date will be October 6, 2022.
  6. The successful bidder must make payment by check or cashier’s check for all bonus, rental, and buyer premium owed to the State within 7 days. The State will accept payment from only one bidder per tract; however, a bidder may make multiple payments in one check or cashier’s check, 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 South Dakota Office of School and Public Lands.

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, payable to South Dakota Office of School and Public Lands within seven days.

South Dakota Office of School and Public Lands Point of Contact

Commissioner of School and Public Lands
Treyton Kost-Hillmer

Email
Treyton.KostHillmer@state.sd.us

Office
(605) 773-4171

EnergyNet Point of Contact

Government Resources

Email
government@energynet.com

Office
(877) 351-4488

Bid History (Top 10)

Bidder

Placed

Amount

Bidder #583

9/29/2022 10:33:48 AM

$2