Okla. Stat. tit. 74, § 74-2219
This is the official text of Okla. Stat. tit. 74, § 74-2219, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Oil and gas leases - Mining leases - Sale and execution
Official statutory text
A. The Commission may offer for sale, sell and execute oil and
gas leases, and other mineral and mining leases, on any of the lands
of the state under the control and supervision of the Commission,
provided, the development of land for the purpose leased shall not
unduly interfere with the purpose for which the land is being used
by the state.
B. The Commission may promulgate additional rules, as are
necessary and for the best interest of the state to facilitate the
sale of the leases. The Chair of the Commission shall execute the
leases for and on behalf of the Commission, and the Chair shall be
liable on the official bond for failure to faithfully discharge such
Oklahoma Statutes - Title 74. State Government Page 892
duties. The sale of leases shall be made upon the basis of a
retained royalty of not less than one-eighth (1/8) of all oil, gas,
casinghead gas, and other minerals produced from the lands covered
by the leases and any additional cash bonus procured. Provided,
however, if the state owns less than one hundred percent (100%) of
the oil, gas, casinghead gas and other minerals covered by any such
lease, the royalty retained shall not be less than one-eighth (1/8)
of the mineral interest.
C. All leases shall contain a provision that in the event of
the discovery of natural gas, the gas shall be furnished free of
charge to any state institution now or hereafter located upon the
lands covered by the lease. Leases shall be sold only after
advertisement for a period of three (3) weeks in a legal newspaper
published and of general circulation in the county in which the
lands are located. A sale shall be made to the highest and best
bidder and all bids shall be in sealed envelopes which shall be
opened and considered at the same time. The Commission may reject
any and all bids and readvertise any leases for sale.
D. Revenues derived from the sale of oil and gas leases and
other mineral leases shall be dedicated to the improvement of state
park facilities and property to include, but not limited to, the
conservation, protection, and rehabilitation of state parkland, the
preservation of historic properties under the jurisdiction of the
Commission, and master planning of state park properties.
gas leases, and other mineral and mining leases, on any of the lands
of the state under the control and supervision of the Commission,
provided, the development of land for the purpose leased shall not
unduly interfere with the purpose for which the land is being used
by the state.
B. The Commission may promulgate additional rules, as are
necessary and for the best interest of the state to facilitate the
sale of the leases. The Chair of the Commission shall execute the
leases for and on behalf of the Commission, and the Chair shall be
liable on the official bond for failure to faithfully discharge such
Oklahoma Statutes - Title 74. State Government Page 892
duties. The sale of leases shall be made upon the basis of a
retained royalty of not less than one-eighth (1/8) of all oil, gas,
casinghead gas, and other minerals produced from the lands covered
by the leases and any additional cash bonus procured. Provided,
however, if the state owns less than one hundred percent (100%) of
the oil, gas, casinghead gas and other minerals covered by any such
lease, the royalty retained shall not be less than one-eighth (1/8)
of the mineral interest.
C. All leases shall contain a provision that in the event of
the discovery of natural gas, the gas shall be furnished free of
charge to any state institution now or hereafter located upon the
lands covered by the lease. Leases shall be sold only after
advertisement for a period of three (3) weeks in a legal newspaper
published and of general circulation in the county in which the
lands are located. A sale shall be made to the highest and best
bidder and all bids shall be in sealed envelopes which shall be
opened and considered at the same time. The Commission may reject
any and all bids and readvertise any leases for sale.
D. Revenues derived from the sale of oil and gas leases and
other mineral leases shall be dedicated to the improvement of state
park facilities and property to include, but not limited to, the
conservation, protection, and rehabilitation of state parkland, the
preservation of historic properties under the jurisdiction of the
Commission, and master planning of state park properties.
Status: in_force · Read it on the official government site
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