The Commissioners of the Land Office may sell oil and gas or other mineral leases on any of the public lands under their control and supervision whether the same was acquired by federal grant, donation, foreclosure or otherwise. The Commissioners of the Land Office shall publish notice of the lease sale one time not less than thirty (30) days prior to the lease sale date in two newspapers authorized by law to publish legal notices. One of the newspapers shall be published in the county where the land is located or other newspaper as authorized by Section 106 of Title 25 of the Oklahoma Statutes. The other shall be a newspaper of general circulation in this state. The leasing shall require and the advertisement shall specify in each case a fixed royalty to be paid by the successful bidder, in addition to any bonus offered for the lease, and no transfer or assignment of any lease shall be valid or confer any right in the assignee without the prior consent of the Commissioners of the Land Office in writing. Agricultural lessees in possession of the lands shall be reimbursed for all damage done to the interest of the agricultural lessee. The Commissioners of the Land Office have the right to reject any and all bids for leases. The Commissioners of the Land Office shall provide any other notice of oil and gas lease sales to all interested parties by any means it determines is needed to attract the best competition.

Added by Laws 1935, p. 116, § 28, emerg. eff. May 14, 1935. Amended by Laws 2003, c. 205, § 1, eff. July 1, 2003; Laws 2010, c. 41, § 15, emerg. eff. April 2, 2010. Renumbered from § 92 of this title by Laws 2010, c. 41, § 72, emerg. eff. April 2, 2010.