Issue Date:
Revised Date: 2018-02-15

Legal Citations

Object Type

Cash — Natural Resources

Origin Date

1951 by the 52nd Leg.

Description

Royalty of at least 1/8 of gross production of oil from land owned or held in trust by the Parks and Wildlife Department. Shut-in oil royalty charged on wells capable of production, where oil is not being produced for lack of suitable production facilities or market, in an amount equal to twice the annual rental provided on the lease, no lease than $1,200 a year for each well capable of producing in paying quantities. 

Due Date

On or before the 5th day of the second month succeeding the month of production.

Note

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

USAS Values

Appropriation Year 25
USAS Title OIL 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