Tex. Nat. Res. Code § 32.1072

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 32.1072 - Minimum Royalty, Bonus, and Rental

The board may not accept a bid on an oil and gas lease that offers:

(1) a royalty of less than one-eighth of the gross production of oil and gas; or

(2) a cash bonus of less than $10 an acre.

Tex. Nat. Res. Code § 32.1072

Amended by Acts 1993, 73rd Leg., ch. 897, Sec. 11, eff. 9/1/1993.

Added by Acts 1985, 69th Leg., ch. 624, Sec. 22, eff. 9/1/1985.