Oil & Gas Mineral Rights and Lease near Beckville, Panola County, Texas!

Description

Item Id: Matthews02
Case Name: Matthews, Billy W & Janice M
Case Number: 18 30400
Trustee:
Starting Minimum Bid: $1,995

Description: Oil & Gas well mineral rights near Beckville, Texas in Panola County. The debtor owns partial interest inherited from a late grandmother.

The Legal Description is:

‘All of our undivided interest in and for 15 acres, more or less, being a 16-acre tract, a part of the A DuBoise Survey, being the same land described in that certain warranty deed from Maude Patty et al to Tinnie Dupriest, dated April 20, 1937 and recorded in Volume 138, Page 579, Deeds Records of Panola County, Texas; less and exceed a one (1) acre tract described in that certain warranty deed from Walter and Tinnie Dupriest to W A Langley, dated November 19, 1938 and recorded in Volume 156m Page 473,, Deed of Records of Panola County, Texas to which deeds and records referenced is herein made for all purposes.

It is recognized that the land covered hereby is included in the C I Bell Unit and that as of the date of execution of this lease the lessee is not in default of any delay rental payment required for herein but is under the obligation to account to Lessor for accrued royalties from date of first production’

The deed is in the name of the debtor’s grandfather who is deceased. The lease is in the name of the debtor. The winning bidder will receive a Trusee’s Deed, inheritance documentation, and an Assignment to transfer the deed and lease

The current lease holder is Amplify Energy of Houston. Past lease holders have been Chesapeake Operating and EOG Resources

The most recent royalty payment to the debtor was $4.77 in August 2018. Amplify has not provided any additional royalty results since that date.

Future payments to be paid to the winning bidder after payment is received for the auction’s winning bid

Deed / Lease History Panola County Deed TX

Payout History: Matthews Operating Statement

Notes: A document preparation fee of $275 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 www.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, 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/mineral rights, paying all fees/liens (if any), recording/transferring the title/deed/and leasing firm agreements and gathering any paperwork/documentation necessary for that process. Seller and trustee are NOT appraisers or oil/gas brokers.

BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment or deed as required by Panola County, and contact information at both leasing firms. 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, Chase, Citibank, 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.

A document preparation fee of $275 (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 included 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..