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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.
Cite this article: FindLaw.com - Texas Natural Resources Code - NAT RES § 32.1072. Minimum Royalty, Bonus, and Rental - last updated April 14, 2021 | https://codes.findlaw.com/tx/natural-resources-code/nat-res-sect-32-1072.html
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