PRIOR PRINTER'S NOS. 2684, 3322 PRINTER'S NO. 3511
No. 2077 Session of 1976
INTRODUCED BY MESSRS. SALOOM AND A. K. HUTCHINSON,
JANUARY 28, 1976
AS AMENDED ON THIRD CONSIDERATION, HOUSE OF REPRESENTATIVES,
JUNE 16, 1976
AN ACT
1 Regulating the term and conditions of certain leases regarding
2 natural gas and oil.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. No lease or other such agreement conveying the
6 right to remove or recover natural gas or oil underlying
7 another's property shall be valid if such lease does not
8 guarantee the lessor at least one-eighth royalty of all natural
9 gas or oil removed or recovered from the subject real property.
10 Section 2. This act shall take effect immediately and shall
11 apply to all documents executed or renewed after the effective
12 date of this act. THE PROVISIONS OF THIS ACT SHALL NOT APPLY TO <--
13 THE UNDERGROUND STORAGE AND SUBSEQUENT REMOVAL OF NATURAL GAS OR
14 OIL PREVIOUSLY REMOVED OR RECOVERED.
A21L42CVV/19760H2077B3511