House Energy OKs bill to transfer unclaimed oil and gas royalties to fund to cap orphan wells
CHARLESTON — In a lightening 10-minute meeting, the House Energy Committee approved a second bill to provide money — potentially millions of dollars — to cap orphan oil and gas wells. HB 2779 provides a means for royalties due to unknown or unlocatable mineral owners to be transferred to the Oil and Gas Reclamation Fund after seven years. The fund, which has about $400,000 now, is used to cap abandoned and orphan wells. The bill, as amended in committee, addresses two situations. One deals with partition suits, where multiple mineral interests in a single tract are sold ...