Item Id: McNerlin01
Case Name: McNerlin, Armen J & Lori J
Case Number: 18 06546
Starting Minimum Bid: $2,495
Description: Oil & Gas well mineral rights near Ignacio, Colorado in La Plata County. Debtor holds interest in the rights and the royalties. The current Oil/Gas lease holders are BP America of Naperville, Illinois, and Red Willow Production Company of Ignacio, Colorado. The owner/debtor owns with rights with a late spouse. These rights have been inherited from the former spouse who is now deceased.
The Legal Description is:
‘Subject To reservations contained in the United States Patent of record in Book 102, at Page 125; reservation of all coal in the lands as granted as reserved in Patent of record right of way as described in Deed recording in Book 151 at Page 186; Oil and Gas Lease recorded in Book 257 at Page 197, reservation of life estate in and to all oil, gas and other minerals as reserved in Deed recorded in Book 519 on Page 457: terms, conditions and provision of Subdivision improvements Agreement recorded as Reception No. 632720…………’
There are two lease operators and two payment streams. Lease operators are currently BP, and Red Willow Petroleum. Royalty payments to the debtor have totaled $589.53 dating in 2017.
This figure represents $234.92 paid by Red Willow, and $354.63 paid by BP.
Location Info: The rights are located in far southwest Colorado near the state line with New Mexico
Liens: We do not know of any liens
Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..