Tex. Educ. Code § 109.155 · Subchapter D. MINERAL DEVELOPMENT IN UNIVERSITY LAND
SEPARATE BIDS; MINIMUM ROYALTY; DELAY RENTAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A separate bid shall be made for each tract or subdivision of a tract.
(b) No bid shall be accepted which offers a royalty of less than one-eighth of the gross production of oil, gas, sulphur, and other minerals in the land bid upon. The board may increase this minimum royalty at the discretion of the board.
(c) Every bid shall carry the obligation to pay an amount not less than $5 per acre for delay in drilling or development. The amount shall be fixed by the board in advance of the advertisement. The delay rental shall be paid every year for five years unless in the meantime production in paying quantities is had upon the land or the land is released by the lessee.
Notes and commentary — not statutory text
History
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1173 (S.B. 907), Sec. 9, eff. June 19, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.109.htm
- Text hash
- sha256 af4678aa8d5fd0ab3c153bd48abcbe2c203bb2da773ea37088ccc61c82f23ec6
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.