HB4500 H ENG AMT

Gaskins 3254

 

The Committee on Energy moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

H. B. 4500 - A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new article and sections, designated 22-6C-1, 22-6C-2, 22-6C-3, 22-6C-4, 22-6C-5, 22-6C-6 and 22-6C-7, all relating to oil and gas royalty owner protections; providing methods of ensuring transparency in determining the amount paid to a royalty interest owner by requiring certain information to be attached to the payment instrument provided to the interest owner by the producer; defining certain terms; establishing a general rule for the accumulation of proceeds from production and the payment of funds therefrom; requiring the timely payment of royalties and establishing a penalty for failure to timely pay an interest owner; requiring oil and gas producers to report to the Department of Environmental Protection on a quarterly basis all production data associated with a given well; and requiring the Department of Environmental Protection to collect all quarterly production data and organize such data on the Department of Environmental Protection website; and resolving conflicts between division orders and leases.

 

Adopted

Rejected