{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-2219","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-2219","heading":"Oil and gas leases - Mining leases - Sale and execution","body":"A. The Commission may offer for sale, sell and execute oil and\n\ngas leases, and other mineral and mining leases, on any of the lands\n\nof the state under the control and supervision of the Commission,\n\nprovided, the development of land for the purpose leased shall not\n\nunduly interfere with the purpose for which the land is being used\n\nby the state.\n\nB. The Commission may promulgate additional rules, as are\n\nnecessary and for the best interest of the state to facilitate the\n\nsale of the leases. The Chair of the Commission shall execute the\n\nleases for and on behalf of the Commission, and the Chair shall be\n\nliable on the official bond for failure to faithfully discharge such\n\nduties. The sale of leases shall be made upon the basis of a\n\nretained royalty of not less than one-eighth (1/8) of all oil, gas,\n\ncasinghead gas, and other minerals produced from the lands covered\n\nby the leases and any additional cash bonus procured. Provided,\n\nhowever, if the state owns less than one hundred percent (100%) of\n\nthe oil, gas, casinghead gas and other minerals covered by any such\n\nlease, the royalty retained shall not be less than one-eighth (1/8)\n\nof the mineral interest.\n\nC. All leases shall contain a provision that in the event of\n\nthe discovery of natural gas, the gas shall be furnished free of\n\ncharge to any state institution now or hereafter located upon the\n\nlands covered by the lease. Leases shall be sold only after\n\nadvertisement for a period of three (3) weeks in a legal newspaper\n\npublished and of general circulation in the county in which the\n\nlands are located. A sale shall be made to the highest and best\n\nbidder and all bids shall be in sealed envelopes which shall be\n\nopened and considered at the same time. The Commission may reject\n\nany and all bids and readvertise any leases for sale.\n\nD. Revenues derived from the sale of oil and gas leases and\n\nother mineral leases shall be dedicated to the improvement of state\n\npark facilities and property to include, but not limited to, the\n\nconservation, protection, and rehabilitation of state parkland, the\n\npreservation of historic properties under the jurisdiction of the\n\nCommission, and master planning of state park properties.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"fdbd7f2960f06f3f0a9f5485ba390f5fe7690b42a258b15a25910684ab9d6816","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-2218","next":"us-ok/okla.-stat.-tit.-74-74-2220"},"notice":"GroundRules: Original legal text. Not legal advice."}