The Office of Management and Enterprise Services is authorized to provide for the development for oil and gas purposes of the following described property:
All of the-state owned lands not now leased for oil and gas mining purposes within a radius of five hundred (500) yards of a point on the half-section line running north and south between the northeast fourth and northwest fourth of Section twenty-seven (27), Township Twelve (12) North, Range three (3) West of the Indian Meridian, and the center of Twenty-second (22) Street in Oklahoma City, Oklahoma, extended east from the right-of-way of the Atchison, Topeka and Santa Fe Railway Company.
The development of such property shall be by means of a well, or wells, located on adjacent state-owned lands. The Office of Management and Enterprise Services is authorized to enter into an agreement, or agreements, with the owner of the oil and gas lease, or leases, on adjacent state-owned lands, consolidating said tract with said adjacent state-owned lands or some part thereof for oil and gas development, upon such terms and conditions, and for such consideration as the Office of Management and Enterprise Services may prescribe. There shall be reserved to the state a royalty of not less than one fourth (1/4) of the oil and gas, or the proceeds thereof, that may be produced from the property first described. All development of the property first described for oil and gas purposes shall be by means of a well, or wells, located on the surface of said adjacent land but which may be directionally drilled and bottomed on and underneath the property first described.
Added by Laws 1941, p. 441, § 1. Amended by Laws 1983, c. 304, § 123, eff. July 1, 1983; Laws 2012, c. 304, § 801. Renumbered from § 103 of Title 74 by Laws 2013, c. 209, § 25, eff. July 1, 2013.