Sec. 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. Added by Acts 1985, 69th Leg., ch. 624, Sec. 22, eff. Sept. 1, 1985. Amended by Acts 1993, 73rd Leg., ch. 897, Sec. 11, eff. Sept. 1, 1993.
Minimum Royalty, Bonus, and Rental
Tex. Natural Resources Code § 32.1072, under Chapter 32.
Tex. Natural Resources Code § 32.1072