Sec. 52.172. SALE AND LEASE BY AGENT. The owner of said land is hereby authorized to sell or lease to any person, firm, or corporation the oil and gas that may be thereon or therein upon such terms and conditions as such owner may deem best, subject only to the provisions hereof, and he may have a second lien thereon to secure the payment of any sum due him. All leases and sales so made shall be assignable. No oil or gas rights shall be sold or leased hereunder for a delay rental during the primary term of less than 10 cents per acre per year plus royalty, and in case of production, the lessee or purchaser shall pay the state the undivided one-sixteenth of the value of the oil and gas reserved herein, and like amounts to the owner of the soil.
Acts 1977, 65th Leg., p. 2457, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1985, 69th Leg., ch. 624, Sec. 44, eff. Sept. 1, 1985.
Structure Texas Statutes
Subtitle D - Disposition of the Public Domain
Section 52.171. School and Asylum Lands
Section 52.172. Sale and Lease by Agent
Section 52.174. Failure to Drill Offset
Section 52.175. Lease of Oil and Gas After Forfeiture
Section 52.176. Forfeiture of Rights
Section 52.177. Rights of Subsequent Purchaser
Section 52.178. Operation Under Permit
Section 52.179. Lease Under Permit
Section 52.180. Payments Under Permit
Section 52.181. Relinquishment Under Permit
Section 52.182. Damages to Soil
Section 52.183. Effective Date of Lease
Section 52.184. Statement of Consideration
Section 52.185. University Land
Section 52.186. Lease of Certain Minerals When Owner of the Soil Unavailable
Section 52.188. Assignments to the Owner of the Soil