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By: Geren, Darby (Senate Sponsor - Birdwell) |
H.B. No. 3226 |
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(In the Senate - Received from the House April 11, 2019; |
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April 15, 2019, read first time and referred to Committee on |
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Natural Resources & Economic Development; April 25, 2019, reported |
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favorably by the following vote: Yeas 10, Nays 0; April 25, 2019, |
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sent to printer.) |
| Click here to see the committee vote |
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A BILL TO BE ENTITLED
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AN ACT
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relating to the terms of dissolution of an oil or gas pooled unit. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 102.082, Natural Resources Code, is |
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amended to read as follows: |
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Sec. 102.082. AUTOMATIC DISSOLUTION. A unit is |
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automatically dissolved: |
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(1) two years [one year] after its effective date if no |
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production or drilling operations have been had on the unit or |
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surface location for the unit; |
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(2) six months after the completion of a dry hole on |
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the unit; or |
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(3) six months after cessation of production from the |
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unit. |
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SECTION 2. This Act takes effect September 1, 2019. |
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* * * * * |