HB4268 HFA Jennings #1 2-14

Akers 3254

Delegate Jennings moves to amend the bill on page eleven, section four, line fifty-five, after the word “provisions” by striking out the period and inserting in lieu thereof a colon and the following:

“Provided further, That consenting cotenants and their lessees, operators, agents, contractors or assigns shall only develop the specifically targeted stratigraphic formation and 100 feet above and below said formation; nonconsenting cotenants and unknown or unlocatable interest owners will retain all rights to all other formations unless or until reasonable efforts are made to renegotiate under this section for each additional formation.  If a consenting cotenant has made a lease only for the targeted formation, in that case the nonconsenting cotenants and unknown and unlocatable cotenants shall receive the highest royalty, bonus and delay rental in the lease which was executed for the targeted formation.”

Adopted

Rejected