MGL No. 57

TEXAS WORKFORCE COMMISSION

The royalty on the Texas Workforce Commission (TWC) Mineral Tract is 25% of the gross production of oil and/or gas. The primary term of the lease shall be three (3) years. The annual delay rental thereon is fixed at $10.00 per acre beginning with the second year of the lease.

This tract shall be subject to the following surface use restrictions:

• Any provision herein to the contrary notwithstanding, it is agreed and understood that no entry shall be permitted on the surface of the leased lands. Any development of the land shall be by means of directional or horizontal wells located off the leased land, or by pooling of said land with other land or leases as provided by Subchapter E, Chapter 52, Natural Resources Code.

For a copy of the lease form to be used for the TWC tract or for additional information concerning this tract, contact the Mineral Leasing Division at either (512) 475-1499 or (512) 475-1512.

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ABBREVIATIONS AND DEFINITIONS

Resource Management Codes - Click here to view a detailed description
AC - Acre(s)
NAVI DIST - NAVIGATION DISTRICT: Indicates that all or a portion of the tract lies within the boundaries of a navigation district. Bidders should contact the applicable governing authority for the navigation district and the General Land Office for surface use restrictions.
POL – PORTION OUTSIDE LEASE: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas lease. Lease information is available in the mineral file located in the Archives and Records Division of the General Land Office.
POU - PORTION OUTSIDE UNIT: Indicates that the acreage within the boundaries of the tract is available for lease save and except any portion included in a valid oil and/or gas unit. Unit information is available in the mineral file located in the Archives and Records Division of the General Land Office.
PT - PART: Bidders should contact the General Land Office for further information.
TMLL - THREE MARINE LEAGUE LINE: Denotes tracts that are adjacent to the Three Marine League Line. These tracts have been submitted to the MMS for the coordination of acreage.
WFAL - Denotes tracts that are WEST of the FEDERAL ADMINISTRATION LINE.

Completions from the last 365 days in Midland County, Texas

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Drilling Permits from the last 365 days in Midland County, Texas

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Drilling Rigs on location in Midland County, Texas

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Notice: A Buyer Premium will be added to the total bonus amount cost of this lease, calculated as follows:

Buyer Premiums are only due for tracts which are sold and computed only on the winning bonus bid amount. The schedule offers a fixed rate of 1.25% up to a bonus bid value of $50,000 and then begins to slide linearly to a rate of 1.00% for a bonus bid value of $1,000,000. Bonus bids in excess of $1,000,000 are computed at a fixed rate of 1.00%.

When the bids are accepted by the Texas General Land Office, the successful bidder will be notified via email with closing instructions, including total amount due.