North Dakota Oil and Gas Lease Sale, February 13 & 14, 2024
February offering includes 375 Tracts covering 33,674.48 net / 50,661.61 gross acres available for lease.
375 Tracts covering 33,674.48 net / 50,661.61 gross acres available for lease
Open for bidding February 6th - February 14th, 2024
All bids entered on an auction property are treated as a Maximum Bid. This entered amount should be the highest amount you are willing to pay. The EnergyNet auction engine will bid automatically on your behalf, up to the amount you specify. Your Maximum Bid amount always remains confidential, both during and after the auction.
Any time a competing bid is placed that is less than your entered maximum bid, another bid one bid increment larger than this competing bid will be automatically entered on your behalf. The automatic bidding will stop when a competing bid is received that is larger than your maximum bid. EnergyNet auctions are "second-price" auctions, which means the system will never make a bid unless necessary to maintain your status as high bidder. For example, let's say you would like to bid on a property with a current high bid of $12 and a bid increment of $1. If you enter a Maximum Bid of $100 on this property, a new bid will be placed automatically at $13, the next minimum increment, to make you the new high bidder. The system will then continue to increase your bid whenever you are outbid. The system will only bid up to, and including, the $100 limit you specified.
The Maximum Bid mechanism is an invaluable tool to maintain your bidding status. Because it operates automatically, based on the parameters you set, you don't have to be active during the auction to participate, and you don't need to manually place flat bids. This feature can be very important when bids begin to increase faster than you can respond manually.
After you have set a Maximum Bid amount, you don't have to be online during the rest of the auction if you are unable. This is especially useful when you must be away from your computer during the auction, or if you won't have access to the Internet at times while the auction is in progress. You don't have to be online or logged in for the system to bid on your behalf.
Are there registration requirements to conduct business with the State of North Dakota?
Prior to accepting leases, lessees must register with the North Dakota Secretary of State. More information on registering different types of businesses can be found at https://www.nd.gov/businessreg/register/index.html.
When will I receive the invoice for the tracts I won?
Within an hour after the last tract closes, an email will be sent by EnergyNet to the bidder containing the invoice for each tract won and the amount due to the North Dakota Department of Trust Lands. Invoices are also available on the Buyer's Homepage. Please call EnergyNet at 866-364-4688 if an email is not received within one (1) hour following the sale.
When is the invoice due?
Payment must be submitted to the North Dakota Department of Trust Lands within ten (10) days.
What are the payment options?
Payment may be made directly to the North Dakota Department of Trust Lands by either wire transfer or automated clearing house (ACH). Remittance instructions will be provided with the invoice.
What if the payer is different than the bidder?
If the payer differs from the bidder, simply reference the tract information with the payment.
What if the bidder name is different from the entity that will hold the lease?
When registering for the sale, the bidder may designate the lessee(s) and provide contact details.
When will I receive my Lease documents?
ND DTL processes and issues the lease documents directly. Lease documents are typically returned within 1-2 weeks following the sale.
Where can I find more information about the Nomination process?
Click Here to View Government Agency Nomination Information
Where do I find out more about placing bids?
Visit the EnergyNet YouTube page to view a video on Bidding Practices and Tips.
Contact the Government Resources Team with any questions at government@energynet.com or (877) 351-4488.
If you have a news tip, press release, guest suggestion or other content concepts, please email thecontentcreationstudios(AT)gmail(DOT)com
This post was brought to you in part by one of The Crude Life’s fantastic sponsors, please consider supporting their services or learning more about their organization by clicking on the banner below.
Most buyers either walk or drive past a home, real estate, and decide whether or not to enter the property based on the look of the exterior. What many buyers may not realize is that the sellers inside the house may be keener to engage with potential buyers than those standing outside.
The key to selling your house is in making it appealing to as many potential buyers as possible, and having the best real estate agents that can significantly increase your chances of selling your home fast and for top dollar.
We’re in the business of helping people. We just happen to sell real estate.
Follow Hatch Realty on Facebook, LinkedIn, X (Twitter) or their company website.