Lane played for Essendon Baseball Club and was studying in the US on a sports scholarship at East Central University.
He was visiting his American girlfriend at the time and had only been back in Duncan for three days after spending his summer break in Australia.
Three teenagers have been arrested on first-degree murder charges.
Duncan Police Chief Danny Ford told reporters a motive for the shooting had not been determined.
“We’ve got people who heard shots and saw a car and heard a car squeal its tyres and drive away,” he said.
He said family members, Lane’s girlfriend and the consulate had been notified.
The Essendon Baseball Club paid tribute to its former member, a statement on its website saying members were “deeply saddened”.
“Chris was a truly talented and highly respected young man whose friendship was valued by all who had the good fortune to know him,” the club statement said.
“His loss is felt by each and every member of the Essendon family and our thoughts and prayers are with the Lane family during this incredibly difficult time.”
Kiemelt