440 +/- Net Mineral Acres in 10 Tracts Oil & Gas Production w/Substantial Revenue Investment Opportunity! Alfalfa & Grant Co., OK

June 3, 2021
| 10:00 A.M.

Auction Location

Garfield Co. Fairgrounds
111 W. Purdue Ave., Enid, OK 73703

Auction Manager/s

Lynsie Sturgeon
| 580.554.2633
Quentin Sturgeon
| 580.554.7133

Alfalfa County, OK

Mineral #1: SOLD $396,000
Legal:  Seller’s share of minerals and mineral interest in, under, and to the NW/4 of Sec. 34, Twp. 26N, R11 W.I.M., Alfalfa Co., OK
Approx. Location: Located from S. edge of Cherokee, OK, approx. 3 miles S. on SH 8 (2 miles N. of Cozy Curve), then ½ mile W.
NMA: 160 +/-
Production: appears to be from the Patton Trust 34-26-11 1H with RI of 0.04687500 and the B&J Hughes 34-26-11 2H with RI of 0.04687500.
2020 Net Revenue: Approx. $122,620 in total. Check stubs reflect 2020 net revenue to be approx. $44,175 for the Patton Trust 34-26-11 1H and approx. $78,445 for the B&J Hughes 34-26-11 2H, paid by BCE-MACH LLC of OKC, OK.
Owner: Roberta Jean Patton Revocable Living Trust
Note: Minerals will be offered in undivided 40 +/- acre tracts with the high bidder’s option to purchase up to 160 +/- net mineral acres.

Mineral #2: SOLD $341,000
Legal:  Seller’s share of minerals and mineral interest in, under, and to the SE/4 of Sec. 25, Twp. 26N, R11 W.I.M., Alfalfa Co., OK
Approx. Location: Located from S. edge of Cherokee, approx. 3 miles S. on SH 8 (2 miles N. of Cozy Curve), then 1 ½ miles E.
NMA: 160 +/- NMA of Participating Interest & 120 +/- NMA of Royalty Interest
Production: appears to be from the Patton 25 & 24-26-11 1H with RI of 0.03515625 and the Fortress 1-25 with RI of 0.03515625
2020 Net Revenue: Approx. $54,687 in total. Check stubs reflect 2020 net revenue to be approx. $50,993 for the Patton 25 & 24-26-11 1H, paid by BCE-MACH LLC of OKC, OK and approx. $3,693 for the Fortress 1-25, paid by Chesapeake Operating, LLC of OKC, OK
Owner: Roberta Jean Patton Revocable Living Trust
Note: Minerals will be offered in ¼ interests with the high bidder’s option to purchase up to 100% interest.

Mineral #3: SOLD $80,300
Legal:  Seller’s share of minerals and mineral interest in, under, and to the S/2 S/2 NE/4 of Sec. 33, Twp. 26N, R11 W.I.M., Alfalfa Co., OK
Approx. Location: Located across road W. from Mineral #1
NMA: 40 +/-
Production: appears to be from the Porter 33-26-11 2H with RI of 0.00878906 & 0.00195313; the State 33-26-11 1H with RI of 0.00878906; and the State 33-26-11 3H with RI of 0.00878906 & 0.00195313.
2020 Net Revenue: Approx. $30,469 in total. Check stubs reflect 2020 net revenue to be approx. $2968 for the Porter 33-26-11 2H; approx. $3,663 for the State 33-26-11 1H; and approx. $23,837 for the State 33-26-11 3H, paid by BCE-MACH LLC of OKC, OK.
Owner: Roberta Jean Patton Revocable Living Trust

Grant County, OK

Mineral #4: SOLD $22,000
Legal: Seller’s share of minerals and mineral interest in, under, and to the E/2 NE/4 of Sec. 28, Twp. 25N, R4 W.I.M., Grant Co., OK
Approx. Location: Located 5 miles SW of Lamont on SH 74, then 2 miles W. on Comanche Rd
NMA: 80 +/-
Production: appears to be nonproducing & open for lease
Owner: The James R. & Betty Reid Revocable Trust

General Statements

Terms & Conditions:  A 10% Buyer’s premium will be added to the high bid in the auction to determine the purchase price of each tract. 10% of the purchase price is to be placed in escrow the day of the auction with the balance being due upon delivery of merchantable title, at closing. Buyers will have 20 days to examine the county records and satisfy themselves as to the title. Title will transfer by Limited Warranty Deed. Closing is to be on or by July 19, 2021. All information is taken from sources believed to be reliable; however, no guarantee is made by the auction company or its employer. Buyers should satisfy themselves as to acreage, production, etc. prior to auction day. Any announcements made the day of the auction supersede all advertising.

 

Auction Results

Total of $839,300