Interest in Natural Gas Mineral Rights and Royalty Payments near Red Lick Township, Johnson County, Arkansas!

Description

Item Id: Richard01
Case Name: Richard, Ronnie R & Patricia A
Case Number: 15 12793
Trustee:
Starting Minimum Bid: $995

Description: Natural Gas well mineral rights near Red Lick Township, Arkansas near Clarksville, AR 72830 in Johnson County. The lease operator affiliated with these rights is Foundation Energy Management of Ft Worth, Texas.

1/The Legal Descriptions are:

“Blackburn C 2-9: Section 9 Township 10N Range 24W
Blackburn C 04/09: Section 9 Township 10N Range 24W
Blackburn C 6-9: Section 9 Township 10N Range 24W
Blackburn C 3-16 C&T: Section 16 Township 10N Range 24W
Blackburn C 5-16: Section 16 Town 10N Range 24W’.

In 2015, total payments equaled $13.68. Current owner states to Court total payments have been approximately $325 total over the past 10 years.
Owner # with FEM is 22808

Payout History:
15-12793 OIL AND GAS ADDITIONAL INFO

OIL AND GAS FURTHER INFO

Notes: A document preparation fee of $225 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, the rights or lease, 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, and contacting the oil/gas lease firm. 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 Johnson County and assumes no responsibility for recording said deed with the County. All the information as to the item description has been provided by the court. 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, Citibank, Chase, 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. Trustee may require payment be made out to the Trustee.
A document preparation fee of $200 (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 are not aware 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..