State of Texas – Fiscal Management

Manual of Accounts

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Revenue Object 3324 – Gas Royalties from Parks and Wildlife Lands

 

Legal Citations:
Revenue Type: Cash — Natural Resources
Origin Date: 1951 by the 52nd Leg.
Issue Date:
Revised Date: 2018-02-16

Description


A royalty of not less than 1/8 of the gross production of gas from lands owned or held in trust by the Parks and Wildlife Department. Shut-in gas royalty charged on wells capable of production, where oil is not being produced for lack of suitable production facilities or market, in amount equal to twice the annual rental provided on the lease but not less than $1,200 a year for each well capable of producing in paying quantities.



Due Date


On or before the 15th of the second month succeeding the month of production.



Collecting Agencies




Notes


Amended by H.B. 1691, 67th Leg., R.S.



USAS Values


Appropriation Year 26
USAS Title GAS ROYAL-PKS & WLDLIFE LANDS
Receipt Category 08 – Natural Resources
Receipt Type 80 – Land Income
Object Group 30 – Revenues
USAS Status A
Rev/Exp Category 04 – LAND INCOME



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