Sold: Oil & Gas Mineral Rights and Lease near Powers Lake, Burke County, North Dakota!

Item Id: Mariner01
Case Name: Mariner, James E & Shannon E
Case Number: 17 30599
Starting Minimum Bid: $3,000.00

Description: Oil & Gas well mineral rights near Powers Lake, North Dakota in Burke County. Debtor holds fractional interest in the rights and the royalties inherited from a deceased relative.

The current Oil/Gas lease holder is Lime Rock Resources of Houston, Texas, who acquired the original lease from Oxy USA

The Legal Description is:
‘Township 160 North, Range 91 West
Section 13: S ½
Section 24: N ½

The debtor has stated annually payments to the late relative were approximately $3,000 annually. As an inherited lease with siblings, this would mean approximately $500 to the debtors.

Lime Rock has stated they currently owe the family at least $257 for past payments/royalties. This amount will be credited to the Estate, not to the winning bidder.

Future payments to be paid to the winning bidder after payment is received for the auction’s winning bid

Liens We are not aware of any liens