OIL & GAS AUCTION GUIDELINES
Bidding is on the bonus/mineral acre (minimum $1).
All tracts within a section of land will be offered together.
The auction will move along quickly - once bidding appears to have ceased,
it will be closed on each tract following just a single request for additional
bids. The successful bidder has the option of taking all tracts or selecting
individual ones. Notify the auctioneer immediately after the bidding has
ceased on the combined tracts if you only want a portion of what was just leased.
Rejected tracts will be re-offered immediately.
NOTE: In the event the auctioneer misses your bid, notify us immediately and
we will re-open the bidding before moving on to the next tract.
After the sale, you may pick up your settlement sheets from the auctioneer.
The amount you owe per tract, along with where to send the money, is listed on the settlement sheets.
Checks payable to "State Land Department" must be IN our office,
or wire transfers COMPLETED by 5:00 PM of the 7th day following the sale.
No billings will be sent. Leases will not be issued if payment is late.
We accept paid up leases. "Paid-up" amounts are shown on settlement sheets. Sight drafts are not acceptable.
Please call us at (701) 328-2800 if you have any further questions regarding the sales process.
Thanks for your interest in North Dakota!