Okla. Stat. tit. 61, § 61-309

contracts - Notice - Disposition of royalties, bonuses or rentals.

A. The Office of Management and Enterprise Services is hereby

authorized and empowered to offer for sale and sell and execute and

deliver oil and gas or mineral leases upon the lands described in

Section 1 of Title 73 of the Oklahoma Statutes under the control of

said Office of Management and Enterprise Services. The Office of

Management and Enterprise Services is hereby authorized and

empowered to enter into contracts with persons or corporations for

the drilling of oil and gas wells on any such property owned by the

state. No such lease or drilling contract shall be entered into by

said Office of Management and Enterprise Services which provides for

the payment of a royalty to the State of Oklahoma of less than one-

eighth (1/8) of all of the oil, gas, or casinghead gas produced,

saved, and sold from said lands, plus cash bonus, of the royalty in

said leases. Such Office shall give notice of its intention to

offer for sale said lease or drilling contract by advertising said

fact for a period of at least twenty-one (21) days electronically on

an authorized state website and in a legal newspaper published and

Oklahoma Statutes - Title 61. Public Buildings and Public Works Page 74

of general circulation in the county where said lands are located.

The Office shall award such lease, leases, or drilling contracts to

the highest responsible bidder. All bidding shall be by sealed

written or electronic bids filed with said Office of Management and

Enterprise Services.

B. All royalties, bonuses, and rentals accruing to the state

from any contracts or leases executed pursuant to the provisions of

subsection A of this section and all other monies received from the

sale of any such leases, bonuses, and royalties or other contracts

made by said Office of Management and Enterprise Services shall be

credited to the Maintenance of State Buildings Revolving Fund of the

State of Oklahoma.