To ensure that the Permanent School Fund is receiving the most revenue possible from state lands, the Texas General Land Office makes it a priority to properly account for production revenue from state oil, gas and hard mineral leases.
The importance of the Permanent School Fund places a special responsibility on the lessee/operator or agent to report revenues correctly, and on the Texas General Land Office staff to administer and enforce rules and regulations fairly and uniformly.
The lessee/operator or agent is required to submit a report on total production volume and total non-sales dispositions. If the lessee/operator or agent markets all production from a property, the operator or agent must also report the sales volume, value, and calculate a royalty due. Any working interest owners or agents who market their share of production must report their sales volume, value, and calculate a royalty due.
GLO-1: Oil and Condensate Production/Royalty Report
Oil and Condensate Production/Royalty Report
This is used to report the monthly oil and condensate production on both non-unitized and unitized state leases. The GLO-1 includes the volume and disposition of monthly oil and condensate production, as well as the value of disposed volumes and royalty due.
GLO-2: Gas Production/Royalty Report
Gas Production/Royalty Report
This is used to report the monthly production of gas and natural gas liquids/products on both non-unitized and unitized state leases. The GLO-2 form is also used to report plant condensate. The report includes the amount of natural gas produced, the gross value of any sales and the royalty due.
GLO-3: Royalty Payment Document
Royalty Payment Document
Each royalty check, money order or bank draft must be accompanied by a Royalty Payment Document (GLO-3). It shows the lease(s) and amount of royalty that corresponds with the GLO-1 or GLO-2 that has also been filed.