Pursuant to Chapter 71 of the Texas Natural Resources Code and Section 11.1 53 of the Texas Education Code Midland ISD is seeking proposals for a lease of the oil, gas, and minerals underlying three (3) of its District-owned properties: San Jacinto, Bowie, and Agriculture Barn. Bid submissions must comply with the following specifications: Provide for the development of oil and gas on the Properties described in Attachments A, B, & C Specify the amount of royalty on minerals produced, if any, pursuant to the lease. In no event may the royalty be less than a one-eighth (1/8) royalty, Tex. Nat. Res. Code 71.009; Specify the amount of bonus payment, if any, payable to the District upon execution of the mineral lease; Specify the primary term of the mineral lease. In no event may the primary term be for a period of more than ten (10) years from the date of the execution and approval of the lease, Tex. Nat. Res. Code 71.0lO(a); Specify whether the mineral lease will provide authorization for the lessee to pool the lease, the land or minerals included in the lease, in whole or in part, with any other land, leases, mineral estates, in whole or in part, Tex. Nat. Res. Code 71.052; The lease entered into as a result of this Request for Proposals will be a Non-Surface Use Oil, Gas and Mineral Lease. Any drilling locations associated with these properties if located within the City Limits will be required to follow drilling requirements as applied under the current Ordinance 8769.
