Auction result

Total Sold: $3,891,254

Tract(s)	Sold for	Per acre
1+3	$2,447,734
2	$870,480
7	$573,040	$2,459/acre

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These are real results from this sale, not estimates. Ask Brent Wellings, who managed this auction, what your property would bring in today's market. There is no obligation.

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6 Mineral Tracts - 233+/- Acre Farm
Quality Rush Creek Bottomland Farm
6-Month Avg. Cash Flow $148,841/Mo.
Producing SCOOP (Oil Window) Mineral Interests
Select Operators Include:
Newfield Mid-Continent
Sheridan Production Company
Jones Energy
Apache Corporation
Casillas Operating
Chaparral Energy
SEALED BID DEADLINE: FRIDAY, MAY 24

Click here for online Data Room

Open house / inspection dates

Friday, May 10 from 9:00 am - Noon
Friday, May 24 from 9:00 am - Noon

Property location

Directions to Farm: From Lindsay travel south on Hwy 76 for 9 miles, farm is on the left.

Property description

A unique portfolio of producing mineral interests in the South Central Oklahoma Oil Province (SCOOP Oil Window) in Garvin, McClain and Grady Counties with additional mineral interest in Roger Mills County, Oklahoma. In addition to this portfolio of mineral interests, also being offered is a productive Rush Creek Bottomland farm in Garvin County, which consists of 233+/- acres, near the community of Purdy, Oklahoma. Bidders will have the opportunity to acquire mineral interest properties, surface tract or the very unique opportunity to combine a quality farmland property with actively producing minerals; rarely does such an opportunity present itself to the marketplace.

With individual mineral tracts in Garvin, McClain, Grady and Roger Mills Counties, Bidders have the opportunity to evaluate a diverse portfolio and submit bids on those packages that fit their needs most closely. Bids will also be entertained on any combination of packages or the entire portfolio. The Garvin County farm is a stand-alone quality property, that will be offered in its entirety. The farm boasts 140.57 tillable acres per FSA, with the balance of the farm being pasture, mature timber, comfortable home and 2 hay sheds.

Rarely is an opportunity of this nature made available and we are excited to present this offering to the market.

SELECT OPERATORS INCLUDE:

Newfield Mid-Continent

Sheridan Production Company

Jones Energy

Apache Corporation

Casillas Operating

Chaparral Energy

For information booklets containing Surface Tract acreages and Mineral Packages regarding revenue history, check stubs, production history, division orders, source and conveyance documents, copy of purchase agreement and other title documents please contact the Brent Wellings at 972-768-5165 or visit www.SchraderAuction.com.

TRACT 1: MINERALS
Garvin County, OK (SCOOP Oil Window) Producing Mineral Interest/Royalty Interest with 6-Month Avg. Cash Flow of $35,190.00/Month.
Seller is offering one fourth (1/4) of its rights, title and interest in this property, which includes 16 wells currently being operated by Newfield Mid-Continent of Houston, Texas in Sections 23 & 26, T3N, R4W of Garvin County, Oklahoma. Combined these wells are currently producing an average of approximately 2,241.78 BOPD and 18,853.03 MCFPD.
The check stubs provided in the Bidder Information Booklet reflect the full interest owned by Seller. The average monthly cash flow shown above has been adjusted to reflect the actual interest being conveyed. The production summary shown above reflects the total production and has not been adjusted. Future development of different zones has potential, with Newfield being an active driller.

TRACT 2: MINERALS
Garvin County, OK (SCOOP Oil Window) Producing Mineral Interest/Royalty Interest with 6-Month Avg. Cash Flow of $35,190.00/Month.
Seller is offering one fourth (1/4) of its rights, title and interest in this property, which includes 16 wells currently being operated by Newfield Mid-Continent of Houston, Texas in Sections 23 & 26, T3N, R4W of Garvin County, Oklahoma. Combined these wells are currently producing an average of approximately 2,241.78 BOPD and 18,853.03 MCFPD.
The check stubs provided in the Bidder Information Booklet reflect the full interest owned by Seller. The average monthly cash flow shown above has been adjusted to reflect the actual interest being conveyed. The production summary shown above reflects the total production and has not been adjusted. Future development of different zones has potential, with Newfield being an active driller.

TRACT 3: MINERALS
Garvin County, OK (SCOOP Oil Window) Producing Mineral Interest/Royalty Interest with 6-Month Avg. Cash Flow of $70,380.00/Month.
Seller is offering one fourth (1/2) of its rights, title and interest in this property, which includes 16 wells currently being operated by Newfield Mid-Continent of Houston, Texas in Sections 23 & 26, T3N, R4W of Garvin County, Oklahoma. Combined these wells are currently producing an average of approximately 2,241.78 BOPD and 18,853.03 MCFPD.
The check stubs provided in the Bidder Information Booklet reflect the full interest owned by Seller. The average monthly cash flow shown above has been adjusted to reflect the actual interest being conveyed. The production summary shown above reflects the total production and has not been adjusted. Future development of different zones has potential, with Newfield being an active driller.

TRACT 4: MINERALS
Garvin County, OK (SCOOP Oil Window) Producing Mineral Interest/Royalty Interest with 6-Month Avg. Cash Flow of $440.01/Month. Seller is offering all its rights, title and interest in this property that includes 6 wells currently operated by Rimrock Resources Operating, LLC of Tulsa, Oklahoma, Daylight Petroleum and Casillas Operating in: Section 6, T4N, R3W; Section 5, T3N, R4W; Section 10, T4N, R4W Garvin County, Oklahoma. Combined these wells are currently producing an average of approximately 10.17 BOPD and 249.18 MCFPD.

TRACT 5: MINERALS
McClain County, OK (SCOOP Oil Window) Producing Mineral Interest/Royalty Interest with 6-Month Avg. Cash Flow of $5,036.22/Month. Seller is offering all its rights, title and interest in this property that includes 40 wells operated by:
- Casillas Operating, LLC of Tulsa, OK
- Sheridan Production Co. of Houston, TX
- Penner Energy of Oklahoma City, OK
- Brent Baker Oil & Gas of Oklahoma City, OK
- Lance Ruffel Oil & Gas of Oklahoma City, OK
- Daylight Petroleum of Chicago, IL
- Rimrock Resource Operating of Tulsa, OK
- Red Rocks Oil & Gas Operating of Oklahoma City, OK
- Chaparral Energy, LLC of Oklahoma City, OK
- Streamline Oil & Gas Inc. of Alex, OK
- Craig Elder Oil & Gas of Oklahoma City, OK
In Sections 30, T5N, R4W; Section 31, T5N, R3W; Section 25, T5N, R4W; Section 26, T5N, R4W; Section 35, T5N, R4W; Section 36, T5N, R4W; Section 19, T5N, R3W, McClain County, OK. Combined these wells are currently producing an average of approximately 126.88 BOPD and 3,621.08 MCFPD.

TRACT 6: MINERALS
Grady and Roger Mills Counties, OK (SCOOP Oil Window) Producing Mineral Interest/Royalty Interest with 6-Month Avg. Cash Flow of $2,605.52/Month. Seller is offering all its right, title and interest in this property that includes 14 wells operated by Newfield Mid-Continent of Houston, TX; Jones Energy of Austin, TX; Daylight Petroleum of Chicago, IL; Apache Corporation of Houston, TX in Section 18, T8N, R5W; Section 11, T4N, R5W; Section 14, T4N, R5W; Section 20, T9N, R6W Grady County, OK and Section 5, T13N, R21W Roger Mills County, OK. Currently these wells are producing approximately 552.50 BOPD and 3,476.63 MCFPD.

TRACT 7: 233+/- ACRE FARM
A productive Rush Creek Bottomland farm in Garvin County, which consists of 233+/- acres, near the community of Purdy, Oklahoma. a stand-alone quality property. The farm boasts 140.57 tillable acres per FSA, with the balance of the farm being pasture, mature timber, comfortable home and 2 hay sheds. Being bordered on the south boundary by Rush Creek, this property offers a lot of potential for recreationally minded Buyers looking for potential rental income from tillable acres. The tillable acre soils are primarily comprised of Port Silt Loam and Port Fine Sandy Loam. Two 50 ftx 64 ft pole style hay barns and a modest 3 bedroom, 2 bath home are located on the property as well.

Interactive map

Tract map

Soil information

Soil map - SIGNIFICANT LAND & PRODUCING MINERALS SEALED BID AUCTION - 233+/- ACRE FARM IN 1 TRACT - 6 MINERAL TRACTS IN GARVIN, MCCLAIN, GRADY & ROGER MILLS COUNTIES, OKLAHOMA

Area map

Terms

BIDDING PROCEDURE: The property will be offered via a Sealed Bid Auction with bidding procedures more-specifically outlined in the Sealed Bid Packet. The final bids are subject to Sellers acceptance or rejection.

PURCHASE CONTRACT: With the submission of a Bid(s), each Buyer is required to sign the purchase contract documents in the forms provided in the Sealed Bid Packet. All statements and information in the marketing materials are subject to the terms and conditions of the purchase contract documents. Seller shall not be bound by any statement, promise or inducement that is not contained in the purchase contract documents.

BUYERS PREMIUM: The purchase price will be the bid amount plus a 4% buyers premium.

PAYMENT: 10% of the purchase price will be due as a down payment, with the balance due at closing. The down payment may be made in the form of cashiers check, personal check or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

CLOSING: The targeted closing period is on or before June 24, 2019.

SURFACE TRACTS - POSSESSION: Possession will be delivered at closing except that possession of the cropland will be delivered subject to harvest of the existing wheat crop.

REAL ESTATE TAXES: Real estate taxes will be prorated to the date of closing.

DEED: The Surface Tracts will be conveyed by a deed without warranty, excluding all minerals. (Any purchased Mineral Tracts will be conveyed by a separate mineral deed.)

EVIDENCE OF TITLE: Seller will furnish preliminary title insurance schedules with the Sealed Bid Packet and an updated title insurance commitment before closing. Buyer will pay for the issuance of any title insurance policy.

SURVEY: A new survey will be obtained only if necessary to record the conveyance or if otherwise deemed appropriate in Sellers sole discretion. If a new survey is obtained, the survey cost will be shared equally by Seller and Buyer.

TRACT MAPS; ACRES: Tract maps and advertised acres are approximations based on existing tax parcel data, legal descriptions &/or aerial mapping data and are not provided as survey products.

MINERAL TRACTS - DEED: The Mineral Tracts will be conveyed by a mineral deed without warranty. With respect to any particular Mineral Tract, the Buyer will acquire all of Sellers right, title and interest with respect to the minerals in and under and that may be produced from the particular land identified with such Mineral Tract. The form of mineral deed will be available to review prior to the auction.

EVIDENCE OF TITLE: Seller has no obligation to provide a mineral title search report or opinion before or after the auction. A prospective bidder is responsible for examining the title prior to the auction. In any event, Buyer agrees to accept title in its current condition and accept the deed without any warranty of title, express or implied.

AS IS: Mineral Tracts are offered on an as-is, where-is basis. No representation or warranty is or will be made for any purpose whatsoever as to the quality, quantity, usability, suitability, mineability, value or condition of any minerals which may or may not be included with the purchased Minerals Tract(s).

ALL TRACTS - ALL PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in the marketing materials is provided in order to facilitate (and not as a substitute for) a prospective bidders pre-auction due diligence. All marketing materials are subject to a prospective bidders independent verification. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All sketches and dimensions are approximate.

AGENCY: Schrader Real Estate and Auction Company, Inc. and its representatives are exclusively the agents of Seller.

CONDUCT OF AUCTION: The conduct of the Sealed Bid Auction will be at the direction and discretion of the Auction Company. Seller and its agents reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc.

CHANGES: Please regularly check our website, www.schraderauction.com, to review any changes and/or additional information. THE PURCHASE CONTRACT DOCUMENTS WILL SUPERSEDE THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.