Oil & Gas Mineral Rights near Waskom, Harrison County, Texas!

Description

Item Id: Rose01
Case Name: Rose, Gene (aka Rose, Eugene)
Case Number: 17 30192
Trustee:
Starting Minimum Bid: $1,700

Description: Oil & Gas well mineral rights near Waskom, Texas in Harrison County, Texas. Debtor holds 1/3 interest in the rights and the royalties. The current Oil/Gas lease holder is Shelby Operating of Dallas, Texas. The location is near the Texas / Louisiana state line about 22 miles west of Shreveport

The Legal Descriptions are:

“Vincent A G A #13 Shelby Operating Com, AB 69 RW Bedford Sur, Well #13 RCC 15115”
“Vincent #9 Shelby Operating Co, AB 69 RW Bedford Sur #9 RRC # 14463”

The lease operator is currently Shelby Operating. The attached revenue stream has been paid to the Estate to benefit Creditors. Future payments will be directed to the winning bidder/new owner.

Per Shelby, the debtor has rights to the following:

‘A G Vincent Gas Unit I, #8 Oil Well – .0000059047 Royalty Interest
A G Vincent Gas Unit I, #9 Oil Well – .000243 Royalty Interest
A G Vincent Gas Unit I, #10 Gas Well – .000036156 Royalty Interest
A G Vincent Gas Unit I, #12 Gas Well – .000036156 Royalty Interest
A G Vincent Gas Unit I, #13 Oil Well – .00008903 Royalty Interest’

The debtor failed to sign required documents in 2010 and the above amount has been withheld for that reason. Any payments which may have made from 2010 to the present were not made to the debtor due to lack of signature on various documents. The ‘Payout History’ lists payments which would have been provided had the debtor processed the paperwork properly and have subsequently, per Court Order, been paid to the Estate to benefit creditors.

Division Order See Link Below
Division Order from Shelby 2-7

Payout History:
Revenue Summary Statement.Gas-Oil Wells

Notes: A document preparation fee of $300 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.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 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 Harrison County, and contact information for Shelby Operating. All the information as to the item description has been provided by the court and Shelby. 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 $300 (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.

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..