Tex. Educ. Code § 66.71 · Subchapter D. BOARD FOR LEASE OF UNIVERSITY LANDS
LEASE PROVISIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An oil and gas lease issued by the board shall provide for payment of a delay rental. During the primary term of the lease, the lease shall terminate on the anniversary date of the lease unless:
(1) oil or gas is being produced in paying quantities from the leased premises;
(2) drilling operations are being conducted on the leased premises; or
(3) the lessee pays timely in the manner provided in the lease the amount of delay rental stated in the lease.
(b) If oil or gas is discovered in paying quantities on any tract covered by a lease, the lease as to that tract shall remain in force as long as oil and gas is produced in paying quantities from the tract, provided that the other provisions of this subchapter are complied with by the lessee.
(c) An oil and gas lease issued by the board shall provide that royalty may be taken in kind at any time and from time to time at the discretion of the board in the manner provided in this subchapter.
Notes and commentary — not statutory text
History
Amended by Acts 1997, 75th Leg., ch. 1324, Sec. 1, eff. Jan. 1, 1998.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.66.htm
- Text hash
- sha256 1d2ce6a349e2ff73c57787c577a9d6221d3ab19ddf44954500a33d2321bd474d
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Educ. Code § 66.71. Each shows the citation as that text prints it.
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.