Texas Natural Resources Code

§ 52.088 — ROYALTY RATE

NR § 52.088Title 2. PUBLIC DOMAIN · Part D. DISPOSITION OF THE PUBLIC DOMAIN · Ch. 52. OIL AND GAS · Art. C. DEVELOPMENT OF RIVERBEDS AND CHANNELS

Statute text

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The board shall set the royalty rate on production of oil and gas from riverbeds and channels leased under this subchapter. The royalty rate set must be at least one-eighth of the gross production or the market value of the oil and gas produced.

Legislative history

Acts 1977, 65th Leg., p. 2452, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1993, 73rd Leg., ch. 897, Sec. 29, eff. Sept. 1, 1993.