Oil & Gas
The oil and gas assets of the trust are managed by the Oil & Gas Group. Revenue is generated through bonus payments on new leases, rents and royalties. Most of the oil and gas lands are leased through a competitive, sealed-bid auction held four times annually. A company may nominate parcels of land for the auction by notifying the administration of its interest, in writing.
There is also a process that allows special leasing or development proposals, referred to as Other Business Arrangements (OBAs), to be considered by the agency, with approval by the Board of Trustees. The OBA process is used for special consideration of some lands to bring them into production under a predetermined plan that suits the short- and long-term interests of the beneficiaries. For more information on OBAs, please contact the Assistant Director, Oil and Gas.