National Commercial Auctioneers to Hold Bankruptcy Auction for 9 Oil Lease Packages covering 1,560 acres in Oklahoma

TULSA, Okla., Aug. 27 /PRNewswire/ -- National Commercial Auctioneers [www.natcomauctions.com] announces the bankruptcy auction of nine oil lease packages in Okmulgee, Okla., on September 30, according to Stephen Karbelk, CAI, AARE, Broker.

The oil lease packages have a total producing capacity of 30+ BOPD from 26 wells, and most packages include a water disposal well.  There are more than 1,560 acres of leaseholds currently operated from and within 25 miles of Beggs, Oklahoma.

"This is a tremendous opportunity to take advantage of the exceptional upside potential of these under-served, owner-operated producing oil and gas leases. Well and surface work has been curtailed in recent months, and full productive potential requires minimal effort and investment," explained Karbelk.

All producing wells have a pumping unit, tubing and rods to perforation depth and are connected to a separation and storage facility. There are nine different lots of leases that will be offered with each lot having either one or multiple leases.  The lots of leases will be offered individually, in combination and in their entirety.

"There are no minimum bids and no reserves at the auction," comments Karbelk.  All sales are subject to the customary Bankruptcy Court approval.

This auction is the second bankruptcy auction from the Stephen Rowe Oil Properties, LLC bankruptcy case.  In February 2010, National Commercial Auctioneers sold another portfolio of oil leases for the same debtor.  "These leases are even better than the previously offered oil leases.  If you are in the market to buy oil leases, this is the auction to attend," said Karbelk.

In addition to the oil leases, National Commercial Auctioneers will be selling the corporate offices of Stephen Rowe Oil Properties, LLC, which includes 6.6+/- acres with a small office building, storage buildings and an equipment yard.  

The auction will be conducted in the courtroom on the second floor at the US Bankruptcy Court, 111 W. 4th Street in Okmulgee, Okla., beginning at 10am.

Please see the property information package for complete terms and conditions.  For more details, visit www.natcomauctions.com or call toll free (877) 895-7077.  

National Commercial Auctioneers is a nationwide auction company that specializes in commercial sales for banks, special servicers, receivers, Trustee's and bankruptcy courts.

SOURCE National Commercial Auctioneers