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Texas Natural Resources Code

§ 32.151 — TERM OF LEASE

NR § 32.151Title 2. PUBLIC DOMAIN · Part C. ADMINISTRATION · Ch. 32. SCHOOL LAND BOARD · Art. E. CONDITIONS OF LEASES

Statute text

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Each oil and gas lease shall be for a primary term not to exceed 10 years and for as long thereafter as oil or gas is produced in paying quantities.

Legislative history

Added by Acts 1985, 69th Leg., ch. 624, Sec. 24, eff. Sept. 1, 1985. Amended by Acts 1993, 73rd Leg., ch. 897, Sec. 14, eff. Sept. 1, 1993.

Source: Texas Natural Resources Code § 32.151 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.