Nebraska § 72-902 - Leases; terms and conditions; bids, when taken.
Full text of Nebraska Revised Statutes of Nebraska § 72-902 — Leases; terms and conditions; bids, when taken., with citation guidance and answers to common questions.
§ 72-902. Leases; terms and conditions; bids, when taken.
All oil and gas leases issued hereunder shall be for terms not to exceed ten years, and as long thereafter as oil or gas is produced in paying quantities from the land covered thereby. Such leases shall also provide for annual delay rentals of not less than fifty cents per acre of land leased. If two or more parties desire to lease the same land, the representatives of the Board of Educational Lands and Funds present at the offering shall accept bids from all or any parties, and the board may grant a lease to the person, partnership, limited liability company, or corporation that would pay for a lease contract on the land the greatest amount of such bonus. Lands shall be leased in as compact bodies as the form and area of the tracts subject to lease will permit. No lease shall embrace noncontiguous subdivisions of land unless such subdivision shall be within an area comprising not more than one square mile.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 72-902
What does Revised Statutes of Nebraska § 72-902 cover?
Section 72-902 ("Leases; terms and conditions; bids, when taken.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 72-902?
A common citation format is "Revised Statutes of Nebraska § 72-902" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 72-902 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.