Wednesday, January 28, 2015

Senate Unanimously Approves Gas Leaseholder Protection Bills

Two bills protecting natural gas leaseholders across the state were unanimously approved Wednesday by the full Senate, according to Sen. Gene Yaw (R-Lycoming), Majority Chair of the Senate Environmental Resources and Energy Committee.
Sen. Yaw, who sponsored both legislative measures, said Senate approval of the bills was a clear sign that fair and proper treatment of landowners leased with natural gas drilling companies must remain paramount.
“These bills will give landowners more weapons to use in their arguments with the gas drilling companies that pay their royalties,” Sen. Yaw said.  “We’ve tried to provide them with the tools that they can use to determine the accuracy their royalty reports.”
Senate Bill 147 would allow a royalty interest owner the opportunity to inspect records of a gas company to verify proper payment.  In addition, the legislation requires that proceeds from production of oil and gas shall be paid within 90 days of production to ensure monthly royalty payments, unless otherwise stated in the lease.
Senate Bill 148 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.
Both bills now move to the House for consideration.

No comments :

Post a Comment

Subscribe To Receive Updates:

Enter your email address:

Delivered by FeedBurner