HB 745 (BR 2692) - H. Collins
AN ACT relating to oil and gas.
Amend KRS 353.640 to delete existing provisions governing alternatives to owners not electing to participate in the risk and cost of the drilling, deepening, or reopening of a well; establish procedures under a pooling order that an owner not participating may follow; establish procedures governing pooled interests of an oil or gas owner whose identity and location remain unknown at the conclusion of a hearing concerning a pooling order; establish procedures governing when the owner not electing to pool has been deemed to have leased the oil or gas interest to the well operator.
HB 745 - AMENDMENTS
HCA (1, H. Collins) - Amend KRS 353.640 to state that the pooling order notice shall contact the operator at the published address and provide a copy of the notification to the director of the Division of Oil and Gas within the Department of Mines and Minerals; clarify that surrender of an interest to a participating operator shall be by means of sale or lease; specify that the rate for the leased interest in oil or gas shall be exclusive of one-eighth (1/8) of the production attributable to the unleased interest; provide that a person that has not made an election under a pooling order shall be deemed to have leased the oil or gas interest at a rate exclusive of one-eighth (1/8) of the production attributable to the unleased interest; change the term owner to holder of the operating interest; and make technical corrections.
Feb 25-introduced in House
Feb 26-to Natural Resources and Environment (H)
Feb 27-posted in committee
Mar 5-reported favorably, 1st reading, to Calendar with committee amendment (1)
Mar 6-2nd reading, to Rules
Mar 13-posted for passage in the Regular Orders of the Day for Thursday, March 14, 2002
Mar 14-3rd reading, passed 98-0 with committee amendment (1)
Mar 15-received in Senate
Mar 19-to Agriculture and Natural Resources (S)
Mar 21-reported favorably, 1st reading, to Consent Calendar
Mar 22-2nd reading, to Rules
Mar 28-posted for passage in the Consent Orders of the Day for Thursday, March 28, 2002; 3rd reading, passed 38-0
Mar 29-received in House; enrolled, signed by each presiding officer; delivered to Governor
Apr 5-signed by Governor (Acts ch. 217)
