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2009 SESSION
SB 1204 Royalty payments from gas or oil drilling; property owners whose interest has been force-pooled.
Introduced by: Phillip P. Puckett | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Royalty payments from gas or oil drilling. Provides that property owners with an interest in oil or gas wells whose interest has been force-pooled shall receive a royalty payment of no less than one-eighth the value of production calculated at the point of the first arms-length sale. Such payment shall not be subject to reduction for operating or other costs.
FULL TEXT
HISTORY
- 01/13/09 Senate: Prefiled and ordered printed; offered 01/14/09 093076300
- 01/13/09 Senate: Referred to Committee on Agriculture, Conservation and Natural Resources
- 02/09/09 Senate: Reported from Agriculture, Conservation and Natural Resources (12-Y 3-N)
- 02/10/09 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/10/09 Senate: Read second time and engrossed
- 02/10/09 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/10/09 Senate: Passed Senate (36-Y 4-N)
- 02/13/09 House: Placed on Calendar
- 02/13/09 House: Read first time
- 02/13/09 House: Referred to Committee on Agriculture, Chesapeake and Natural Resources
- 02/18/09 House: Passed by indefinitely in Agriculture, Chesapeake and Natural Resources (16-Y 4-N)