Texas § 66.71 LEASE PROVISIONS.

Texas Statutes

§ 66.71 — LEASE PROVISIONS.

Texas § 66.71

Code EDEducation Code

This text of Texas § 66.71 (LEASE PROVISIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Education Code Code Ann. § 66.71 (2026).

Text

Sec. 66.71. LEASE PROVISIONS.

(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

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Sec. 66.71. LEASE PROVISIONS. (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.