Legislative Update 5-21-21
SB 632: Added additional oil and gas interests to be protected in bankruptcy under the Oklahoma Oil & Gas Lien Act. Passed and signed by Governor Stitt. This bill was a request from an OEPA member. This represents the first piece of legislation proposed AND passed on the behalf of OEPA.
SB 1034: The SOER bill. Essentially dead for this session. Discussions were held between OEPA and the Petroleum Alliance but late in session the Petroleum Alliance opposed the bill.
HB 2029: Will allow WI owners to vote their mineral ownership percentage in unitization plans. Bill pushed by CLR, not directly by the Petroleum Alliance. Passed both the House and Senate. Sent to the Governor’s desk on 05-20-21 for signature. OEPA board voted to not oppose the bill.
PRSA: Changes to the Production Revenue Standards Act have been requested by the Petroleum Alliance. Discussions have been held between OEPA, the Alliance and various royalty owner groups during session. However, no consensus was reached. We anticipate a working group to be formed following Sine Die of this session.