|Posted:||December 9, 2014 09:55 AM|
|From:||Senator Gene Yaw|
|To:||All Senate members|
|Subject:||Oil and Gas Lease Protection Package|
|In the near future, I plan on re-introducing legislation aimed at protecting the rights of landowners who are currently leased with gas companies for the exploration of natural gas. The Oil and Gas Lease Protection Package will consist of two bills.|
Introduced as SB147
|Description:||The first bill, Senate Bill 1236 of last session, expands upon Act 66 of 2013 by allowing royalty interest owners the opportunity to inspect records of the gas company to verify proper payment. All information provided by the gas company will be confidential in nature and cannot be disclosed to any other person.
In addition, the bill requires that proceeds from production of oil and gas shall be paid within 60 days of production.
This package is meant to support leaseholders who seek more transparency and protection while engaging the gas industry on their lease agreements
Introduced as SB148
|Description:||The second bill, Senate Bill 1237 of last session, would prohibit a gas company from retaliating against a royalty interest owner by terminating the lease agreement or ceasing development because a landowner questions the accuracy of the royalty payments.
This package is meant to support leaseholders who seek more transparency and protection while engaging the gas industry on their lease agreements.