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Governor OKs Bill Requiring More Frequent Gas Production Reports, Royalties

Gov. Tom Corbett has approved two bills sponsored by Rep. Tina Pickett (R-Bradford) pertaining to the oil and gas industry. House Bill 2278 would change the way drillers report gas production figures. Prior to the new law, gas companies were only required to file reports with the state Department of Environmental Protection twice a year. Act 173 puts the state on par with other major gas producing states by requiring monthly production reports.
Transparency has become a major issue for leaseholders trying to identify if their monthly royalty payments are correct. The change should also help the state and the U.S. Energy Information Administration (statistics unit for the U.S. Department of Energy) to have the most up-to-date numbers and assess changing production trends in real-time.
Corbett also signed the Recording of Release from Oil and Natural Gas Lease Act (Act 152), which requires oil and gas producers who are party to an oil or natural gas lease to deliver a recordable surrender document not more than 30 days after the termination, expiration, or cancellation of a lease.