109.155 – SEPARATE BIDS; MINIMUM ROYALTY; DELAY RENTAL.
Texas Education Code § 109.155
Summary
This law requires separate bids for each tract of land and establishes a minimum royalty rate of one-eighth for mineral production. It also mandates a minimum payment for delays in drilling or development, ensuring fair compensation for landowners.
Separate bids required for each land tract or subdivision.
Minimum royalty set at one-eighth of gross production.
Obligation to pay at least $5 per acre for drilling delays.
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In simple terms: Learn about Texas's SEPARATE BIDS; MINIMUM ROYALTY; DELAY RENTAL. law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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