|Posted:||January 11, 2013 10:03 AM|
|From:||Representative Tina Pickett|
|To:||All House members|
|Subject:||Recording of Release from Oil and Natural Gas Lease Act (Former HB 2320)|
|In the near future, I plan to reintroduce the Recording of Release from Oil and Natural Gas Lease Act. This legislation will provide a formal method for landowners holding oil and natural gas leases to obtain a release from the lease upon its termination or cancellation. Specifically, this legislation will:
The intent of this legislation is to provide a process for addressing situations where a lease has expired, contains no renewal clause, and the landowner would like to sign a lease with a new natural gas development company. In a number of these instances landowners are being asked for a release before entering into any new lease with a different natural gas development company. The lack of a formal process for addressing this need has led to unnecessary delays which prove to be a significant barrier to a landowner simply attempting to continue to try and develop the natural resources under their property. Similar requirements exist in New York, Kansas, Oklahoma, and Louisiana.
Introduced as HB402