Texas Natural Resources Code 71.009 – Royalty
Current as of: 2024 | Check for updates
|
Other versions
(a) In each lease other than a lease for coal and lignite executed under this subchapter, the lessor shall retain at least a one-eighth royalty.
(b) In a lease for coal and lignite executed under this subchapter, the lessor shall retain at least a royalty based on one of the following or a combination of the following:
(1) a sum certain per ton;
(2) a percentage certain of the gross sale price F.O.B. at the mine site of the coal and lignite; or
(3) a sum certain for each acre-foot of coal and lignite mined and removed from the premises.
Terms Used In Texas Natural Resources Code 71.009
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(c) Royalties under a coal and lignite lease may be paid as advanced mineral royalties.