Kansas Administrative Regulations

Regulation Number:92-9-2
Agency Title: KANSAS DEPARTMENT OF REVENUE
Article Title: Minerals and Natural Products Leases on Navigable Stream Beds
Tax Type:All
Brief Description:Cash bonus; rental.
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Body:

92-9-2 Cash bonus; rental. Bids for the leasing of oil and gas rights in navigable streams will be considered on the basis of a cash bonus, annual delay rental, and the amount of royalty to be paid shall not be less than 12 1/2 % of the gross proceeds at the prevailing market rate. Leases will be executed on a standard Kansas lease form. No lease shall be for a period longer than five years and the lessee shall agree to pay an annual rent in advance on land so long as drilling is delayed. (Authorized by K.S.A. 71-102, 71-103; effective Jan. 1, 1966.)