Bill Text: TX HB2882 | 2021-2022 | 87th Legislature | Introduced


Bill Title: Relating to information provided to a payee by a payor of proceeds of production from an oil or gas well that traverses multiple tracts.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-03-18 - Referred to Energy Resources [HB2882 Detail]

Download: Texas-2021-HB2882-Introduced.html
  87R3809 SLB-F
 
  By: Bailes H.B. No. 2882
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to information provided to a payee by a payor of proceeds
  of production from an oil or gas well that traverses multiple
  tracts.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  The heading to Section 91.402, Natural Resources
  Code, is amended to read as follows:
         Sec. 91.402.  [TIME FOR] PAYMENT OF PROCEEDS; DIVISION
  ORDERS.
         SECTION 2.  Section 91.402, Natural Resources Code, is
  amended by adding Subsection (d-1) to read as follows:
         (d-1)  For a horizontal well whose wellbore extends outside
  of the tract on which a payee has an interest directly or through
  pooling, the payor shall include in the division order or provide in
  a separate statement included with the division order:
               (1)  an as-drilled plat of the well to which the
  division order applies; and
               (2)  an explanation of the formula used to allocate
  production between the different tracts through which the wellbore
  passed or was pooled.
         SECTION 3.  Section 91.402(d-1), Natural Resources Code, as
  added by this Act, applies only to a division order issued on or
  after the effective date of this Act. A division order issued before
  the effective date of this Act is governed by the law in effect on
  the date the division order was issued, and the former law is
  continued in effect for that purpose.
         SECTION 4.  This Act takes effect September 1, 2021.
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