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

Description

Item Id: Mariner01
Case Name: Mariner, James E & Shannon E
Case Number: 17 30599
Trustee:
Starting Minimum Bid: $3,000

Description: Oil & Gas well mineral rights near Powers Lake, North Dakota in Burke County. Debtor holds 1/8 fractional interest.

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

The deed is currently in the name of the debtor’s late father and is inherited by the debtor.

Deed 00226905

Payment Stream
Lime Rock Rev Stream

Notes: A document preparation fee of $275 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).

Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on BKAssets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

Legal Info: By Order of the United States Bankruptcy Court, BKAssets 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 rights, 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 appraisers. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment or deed as required by Burke County and contact information at Lime Rock. All the information as to the item description has been provided by the court. 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, Chase, Citibank, a local regional bank or Credit Union. 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 document preparation fee of $275 (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 included 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 6-8 weeks.

Liens: We are not aware 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..