• 18 Mineral Packages • 4 Surface Tracts • Quality Rush Creek Bottomland Farm • 6-month Avg. Cash Flow $196,376/Mo. • Producing SCOOP (Oil Window) Mineral Interests • Select Operators Include: Newfield Mid-Continent • Sheridan Production Company • Apache Corporation • Merit Energy • Casillas Operating • Jones Energy • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.
SIGNIFICANT LAND & PRODUCING MINERALS AUCTION - 237 +/- SURFACE ACRES IN 4 TRACTS - 18 MINERAL PACKAGES IN GARVIN, MCCLAIN, GRADY & ROGER MILLS COUNTIES, OK - 6 Mo. AVG. CASH FLOW of $196,376/Mo.
Garvin, McClain, Grady and Roger Mills Counties, Oklahoma
Thu, Jan 31, 2019 EASTERNAUCTION IS OVER
TOTAL SOLD: $6,240,000
| Tract(s): 1-22 | @ $6,240,000 | ($26,780/acre) |
OPEN HOUSE/INSPECTION DATES
Tuesday, January 8 from Noon - 2 PM
Thursday, January 17 from Noon - 2 PM
Wednesday, January 30 from Noon - 2 PM
Meet a Schrader Representative on Auction Tract 1
PROPERTY LOCATION
DIRECTIONS TO SURFACE TRACTS: From Lindsay travel south on Highway 76 for 9 miles, farm is located on your left.
AUCTION LOCATION
The Springs Event Venue, 27274 N. Macarthur Ave., Blanchard, OK
Directions to Auction Venue: From Blanchard travel south on Highway 76 for 1.5 miles to the intersection of Highway 74B, turn left on 74B and follow for 2 miles then turn left on Macarthur Avenue and the venue will be on your right (27274 N Macarthur Ave).
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 237+/- acres, near the community of Purdy, Oklahoma. Bidders will have the opportunity to acquire individual mineral interests, surface tracts 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 packages in Garvin, McClain, Grady and Roger Mills Counties, opportunities will be available to bidders to evaluate the diverse portfolio and submit bids on those packages that best fit their needs. Bids on any combination of packages or the entire portfolio will also be entertained . The Garvin County farm is a stand-alone quality property, that will be offered in 4 individual tracts ranging from 17+/- to 160+/- acres. 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. For detailed information such as: check stubs, division orders, production history, historical production curves, outgoing conveyance documents, copy of purchase agreement, soils maps, FSA maps, aerial maps and other title documents please view the Bidder Information Booklet.
MINERAL PACKAGE DESCRIPTIONS
PACKAGES #1-4
Legal Description: Reference source deed for full legal description
West 7.5 acres of the SW4 SE4 NW4 & SE4 NE4 SW4 & W2 E2 SW4 & E2 SW4 SW4, S23, T3N, R4W - Garvin County, OK
NW/4, S26, T3N, R4W - Garvin County, OK
PACKAGE #5
Legal Description: Reference source deed for full legal description
NW4 A/D/A LOTS 3, 4, 5 & 6 AND SE4 NW4, Section 6, T4N, R3W - Garvin County, OK
PACKAGE #6
Legal Description: Reference source deed for full legal description
NE4 NE4 SW4 & W2 NE4 SW4, Section 5, T3N, R4W
PACKAGE #7
Legal Description: Reference source deed for full legal description
NE4 SE4, Section 9, T4N, R4W and NW4 NE4, Section 10, T4N, R4W - Garvin County, OK
PACKAGE #8
Legal Description: Reference source deed for full legal description
Lots 1 & 2 & E2 NW4 & NW4 NE4, Section 30, T5N, R3W - McClain County, OK SE4 SE4 & S2 NE4 SE4 & NW 9.82 acres of Lot 3 & NE4 SW4 & East 20 acres of Lot 3 & SW 9.8 acres of Lot 3 & Lot 4 & West 18 acres of SE4 SW4 & W2 NW4 SE4 & E2 SE4 SW4 & East 2 acres of W2 SE4 SW4 & W2 SW4 SE4 & SE4 SW4 SE4, Section 30, T5N, R3W - McClain County, OK
PACKAGE #9
Legal Description: Reference source deed for full legal description
N2 NE4 & E2 NE4 NW4 & East 2 acres of W2 NE4 NW4 & W2 NW4 & W2 SE4 NW4 & West 18 acres of NE4 NW4, Section 31, T5N, R3W - McClain County, OK
PACKAGE #10
Legal Description: Reference source deed for full legal description
SW4 & SE4 & S2 NE4 & SE4 SE4 NW4, Section 25, T5N, R4W - McClain County, OK
PACKAGE #11
Legal Description: Reference source deed for full legal description
S2 S2 SE4 & NW4 SW4 SE4 & E2 SW4 described by metes & bounds in Section 26, T5N, R4W - McClain County, OK
PACKAGE #12
Legal Description: Reference source deed for full legal description
NE4, Section 35, T5N, R4W - McClain County, OK
PACKAGE #13
Legal Description: Reference source deed for full legal description
E2 NE4 & E2 W2 NE4, Section 36, T5N, R4W - McClain County, OK SW4 & W2 NW4, Section 36, T5N, R4W - McClain County, OK
PACKAGE #14
Legal Description: Reference source deed for full legal description
Lots 3 & 4 & South 19.77 acres of Lot 2, Section 19, T5N, R3W - McClain County, OK
PACKAGE #15
Legal Description: Reference source deed for full legal description
Lot 1 (37.31ac); West 17.44 acres and the Northeast 10 acres of Lot 2; Northwest 8.77 acres of Lot 3; and N/2 NE/4 NW/4 and NW/4 NW/4 NE/4, Section 18, T8N, R5W - Grady County, OK
PACKAGE #16
Legal Description: Reference source deed for full legal description
S/2 SW/4 & S/2 NW/4 SW/4 & SE/4 NE/4 SW/4 & S/2 SW/4 NE/4 SW/4, Section 11, T4N, R5W - Grady County, OK NW/4 SW/4 & W/2 NW/4, Section 14, T4N, R5W - Grady County, OK
PACKAGE #17
Legal Description: Reference source deed for full legal description
The North Half of Section 20, T9N, R6W - Grady County, OK
PACKAGE #18
Legal Description: Reference source deed for full legal description
The South Half, Section 5, T13N, R21W - Roger Mills County, OK
TRACT DESCRIPTIONS
Tract 1: Mineral Tract
Tract 2: Mineral Tract
Tract 3: Mineral Tract
Tract 4: Mineral Tract
Tract 5: Mineral Tract
Tract 6: Mineral Tract
Tract 7: Mineral Tract
Tract 8: Mineral Tract
Tract 9: Mineral Tract
Tract 10: Mineral Tract
Tract 11: Mineral Tract
Tract 12: Mineral Tract
Tract 13: Mineral Tract
Tract 14: Mineral Tract
Tract 15: Mineral Tract
Tract 16: Mineral Tract
Tract 17: Mineral Tract
Tract 18: Mineral Tract
Tract 19: 10.5± ac that includes a comfortable 3 bedroom, 2 bath home along with two 50 ft. x 64 ft. pole style hay barns.
Tract 20: 17± ac of diverse terrain including a hay meadow and creek bottom which transitions into wooded hillside.
Tract 21: 155.5± ac that include approximately 100 acres of tillable land with the balance in mature timber and pasture which borders along Rush Creek to the east and Highway 76 to the west.
Tract 22: 50± ac SWING TRACT with a blend of timber and approximately 35 tillable acres. Bid on this parcel in combination with either Tract 1 or Tract 3.
TRACT MAP(S)
AREA MAP(S)
BIDDING PROCEDURE: All tracts will be offered individually, in any combination and as a whole unit. Bidding on individual tracts and all combinations will compete until the end of the auction. The final bids are subject to Sellers acceptance or rejection.
PURCHASE CONTRACT: Immediately following the close of bidding, each high bidder will sign purchase contract documents in the forms provided in the bidder packets. 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 on the day of auction, 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 March 4, 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 before the auction 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 and, unless otherwise provide in the purchase contract documents, the purchase price will be adjusted proportionately to reflect any difference between advertised and surveyed acres.
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 auction and increments of bidding will be at the direction and discretion of the auctioneer. 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. All decisions of the auctioneer at the auction are final.
CHANGES: Please arrive prior to scheduled auction time to review any changes and/or additional information. THE PURCHASE CONTRACT DOCUMENTS (INCLUDING THE FINAL AUCTION DAY ANNOUNCEMENTS) WILL SUPERSEDE THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.
