Oklahoma § 61-308 Oil or gas lease of lands of public institutions.

Oklahoma Statutes

§ 61-308 — Oil or gas lease of lands of public institutions.

Oklahoma·Title 61 Public Buildings And Public Works

The Office of Management and Enterprise Services is hereby authorized to lease for drilling and development of oil or gas, or both, any of the lands belonging to the state, on which are located public institutions, or are connected with or a part of the lands of such institution. Such leasing to be made by public competition after not less than fifteen (15) days' notice by publication electronically on an authorized state website and in two newspapers authorized by law to publish legal notices, one of which newspapers shall be published at the State Capital, and the other in the county where the land is situated, and in such manner as said Office of Management and Enterprise Services may by rule prescribe. All such leasing must be on electronic or sealed bids and awarded to the highest res

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The Office of Management and Enterprise Services is hereby authorized to lease for drilling and development of oil or gas, or both, any of the lands belonging to the state, on which are located public institutions, or are connected with or a part of the lands of such institution. Such leasing to be made by public competition after not less than fifteen (15) days' notice by publication electronically on an authorized state website and in two newspapers authorized by law to publish legal notices, one of which newspapers shall be published at the State Capital, and the other in the county where the land is situated, and in such manner as said Office of Management and Enterprise Services may by rule prescribe. All such leasing must be on electronic or sealed bids and awarded to the highest responsible bidder, and for a term of not to exceed five (5) years from date and as long thereafter as oil and gas, or either of them, is produced in paying quantities from the land by the lessee, provided the Office may reject any and all bids. The oil and gas interest in such land hereby authorized to be leased is to the extent and in the manner that a private owner of lands in fee, may in his own right, execute such lease or grant.

Oklahoma § 61-308 (Oil or gas lease of lands of public institutions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Laws 1917, c. 223, p. 407, § 1, emerg. eff. March 23, 1917. Amended by Laws 1969, c. 312, § 1; Laws 1983, c. 304, § 120, eff. July 1, 1983; Laws 1992, c. 250, § 7, eff. July 1, 1992; Laws 2012, c. 304, § 798; Laws 2013, c. 209, § 4, eff. July 1, 2013. Renumbered from § 97 of Title 74 by Laws 2013, c. 209, § 20, eff. July 1, 2013. Amended by Laws 2022, c. 238, § 38, eff. Nov. 1, 2022.