Tex. Natural Resources Code § 32.1072
This is the official text of Tex. Natural Resources Code § 32.1072, part of Texas’s Natural Resources Code — governs land, minerals, and natural resource management.
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§ 32.1072. MINIMUM ROYALTY, BONUS, AND RENTAL.
Official statutory text
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.
(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.
Status: in_force · Read it on the official government site
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