Okla. Stat. tit. 64, § 64-1081: Lease for oil and gas development
Where this section sits in the code
- OK Code
- Title 64
Any county, township, school district, city or town that now
owns or may hereafter acquire any land under control of the board of
county commissioners, board of town trustees, directors of school
districts, boards of education or the governing body of any city
acting by and through its duly constituted officers is hereby
authorized and empowered to enter, from time to time, into valid oil
and gas mining lease or leases of such land to any person, firm,
association, or corporation for oil and gas development for a
primary term not to exceed ten (10) years and as long thereafter as
oil or gas is or can be produced, and any such oil and gas lease may
provide that the lessee therein shall have the right and power to
consolidate the land covered by said lease with other adjoining land
for the purpose of joint development and operation of the entire
consolidated premises as a unit, in which event, the lessor in such
lease shall share in the royalty on oil and gas produced from said
consolidated tract in the proportion that the area of the land
covered by such lease bears to the total area of said consolidated
tract, or for the purpose of constructing permanent improvements
thereon for a term not to exceed ten (10) years. This law does not
apply to agricultural purposes.
Collected 2026-09-14T18:32:36Z. Source file · JSON