Sold: Oil, Gas, Mineral Rights on 1,448 Acres in Slope County in North Dakota!

Oil, Gas, Mineral Rights on 1,448 Acres in Slope County in North Dakota!

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Starting Bid: $95,000.00

Refresh BidGoing for
$99,021.00 Winning: mtnaggie

Ending In:

Oil, Gas, Mineral Rights on 1,448 Acres in Slope County in North Dakota!

Item Id: Fuchs01
Case Name: Fuchs, Eric K
Case Number: 11 30145
Trustee:

Description: Estate's interest in oil, gas and mineral rights on 1,448.42 acres of land in Slope County in western North Dakota. The land itself is not owned by the debtor and is not part of this auction; only the mineral rights on the land. The leases cover two separate operators. One with Conoco-Phillips and the other with Continental Resources, Inc. The leases provide one-sixth royalty of the rights. In 2012, the income stream associated with the Conoco-Phillips portion was $1,553.61 (for the year) and $18,046.22 with Continental Resources (for CY2012).

The legal description for both leases is, The legal description for both leases is, ‘Township 133 North, Range 106 West. Section 26: N ½ NE 1/4, NE 1/4 NW ¼, S ½ NW ¼, SW ¼. Section 29: N ½, SW 1/4. Section 30: Lot 1, Lot 2, Lot 3, Lot 4, SE ¼. Section 34: NW ¼, N ½ NE ¼, SE 1/4 NE ¼, NE ¼, SE ¼’.

Upon close of the auction, there will be a 10-day period where the debtor, or creditors, may bid a higher amount. The winning bidder will not to be required to pay until after that 10-day period and trustee determines that no higher bids have been received.

Location Info: The rights are in Slope County, North Dakota near the city of Marmarth.

Liens: We do not know of any other liens.

Notes: A closing cost fee of $500 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click "Terms" tab in Seller Store header at top of ad).

Title and Escrow: A title search was NOT performed on this property. BKAssets does not provide title insurance. If title insurance is desired, the buyer is responsible for obtaining it through a title company. The title company must comply with the terms of the sale as ordered by the court. Because this is a US Bankruptcy Court ordered, as is where is sale, Bkassets.com is not permitted to use an escrow company, or provide any warrantee or guarantee, implied or stated.

Legal Info: By Order of the United States Bankruptcy Court, Bkassets.com sells this and any other property "AS IS, WHERE IS", with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this property after the sale including but not limited to: paying any fees/costs associated with this property, paying all fees/liens (if any), recording/transferring the title and gathering any paperwork/documentation necessary for that process. Seller and trustee are NOT realtors. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with a Trustee's Deed. All the information as to the item description has been provided by the management company and/or the Resort. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval.

Payment Info: $U.S. Money order, certified check, cashier's check. Bkassets may also accept "bill pay" from Wells Fargo, Bank of America, and Chase/Bank One. If you would like to use "bill pay," but do not bank at one of these establishments, please call bkassets prior to sending payment.

A closing cost fee of $500 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.

Shipping Info: Shipping is free to all buyers in the United States. International bidders are welcome, please contact Bkassets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.

Category: Mineral Rights

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  1. mtnaggie bid $99,021.00 on 2013-04-10 16:11:55 [auto]
  2. sanmarcopetr@cs.com bid $99,011.00 on 2013-04-10 16:11:55
  3. mtnaggie bid $97,020.00 on 2013-04-10 16:00:50
  4. sanmarcopetr@cs.com bid $97,010.00 on 2013-04-10 14:05:31
  5. sanmarcopetr@cs.com bid $96,010.00 on 2013-04-10 13:54:30
  6. RKing bid $96,000.00 on 2013-04-10 13:53:10 [auto]
  7. sanmarcopetr@cs.com bid $96,000.00 on 2013-04-10 13:53:10
  8. RKing bid $95,000.00 on 2013-04-08 10:54:40

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Shipping Details

Shipping: $500.00

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To: n/a

Payment Details

Winner will receive mailing address via email.

Item Id: Fuchs01
Case Name: Fuchs, Eric K
Case Number: 11 30145
Trustee:
Starting Minimum Bid: $95,000

Description: Estate’s interest in oil, gas and mineral rights on approximately 1,448.42 acres of land in Slope County in western North Dakota. There are two active leases – one with Conoco-Phillips and the other with Continental Resources, Inc. The leases provide one-sixth royalty of the rights.

Over the past 5 years, the income stream associated with the Conoco-Phillips lease was $13,096.74.
Click Here to View Division Order/5-Year Payout History

Over the past year, the income stream associated with the Continental Resources lease was $18,046.22.
Click to View Lease Document/1-Year Payment History
Click to View 5-Year History

The legal description for both leases is, The legal description for both leases is, ‘Township 133 North, Range 106 West. Section 26: N ½ NE 1/4, NE 1/4 NW ¼, S ½ NW ¼, SW ¼. Section 29: N ½, SW 1/4. Section 30: Lot 1, Lot 2, Lot 3, Lot 4, SE ¼. Section 34: NW ¼, N ½ NE ¼, SE 1/4 NE ¼, NE ¼, SE ¼’. ‘

Upon close of the auction, there will be a 10-day period where the debtor, or creditors, may bid a higher amount. The winning bidder will not to be required to pay until after that 10-day period and trustee determines that no higher bids have been received.

Location Info: The rights are in Slope County, North Dakota near the city of Marmarth.

Liens: We do not know of any other liens.

*Picture is of general area, not representative of actual property.*

Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..

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