Miscellaneous

THE JOURNAL RECORD, June 25, 1987 | Go to article overview
Save to active project

Miscellaneous


(01865) SOLICITATION FOR BIDS OIL AND GAS LEASE The Board of Regents of the University of Oklahoma, a public body corporate, will receive sealed bids from any interested persons for sale of an oil and gas lease.

Sealed bids will be publicly opened and read in the Purchasing Department, Evans Hall, 660 Parrington Oval, Room 321, Norman, Oklahoma 73019, at 4:00 PM, July 16th, 1987. Bids received after this closing time will not be considered. Envelopes must be sealed with the name and address of the bidder at the upper left corner. The bid number "Oil and Gas Lease # 16987-01" and the closing date must appear on the face of the envelope.

The proposed lease shall pertain to the Regents' interest in and to the oil and gas in and under approximately 40.05 net mineral acres located near Norman, Oklahoma, in Cleveland County, particularly described as follows:

The NW 1/4 of the NW 1/4, S8, T8N, R2W of the Indian Meridian, Cleveland County, Oklahoma, containing 40.05 acres more or less.

The oil and gas lease shall be subject to certain terms, conditions, and limitations of federal, state and local laws and regulations, by various deeds, grants and easements of record and by the policies, rules and regulations of the Board of Regents of the University of Oklahoma. Any lease entered into as a result of the bids will include, but not necessarily be limited to, the following features:

1. A minimum of 3/16 royalty.

2. A delay rental of a minimum of $5.00 per acre.

3. A competitive lease term which in no event shall exceed three years.

4. The right of the University to purchase all oil, gas, and other hydrocarbons at prices equivalent to the highest posted prices in this area together with the right at the University's option to receive the University's royalty in kind.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Miscellaneous
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?