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MS HB721
Bill
Status
2/1/2022
Primary Sponsor
Donnie Bell
Click for details
AI Summary
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Mineral estates separated from surface estates automatically revert to the surface estate owner after 10 years of nonproduction, with the 10-year period beginning after July 1, 2022.
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The 10-year nonproduction period is interrupted by bona fide drilling attempts or actual mineral production, and restarts the day after production or drilling operations cease.
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For contracts with shut-in rental payments in lieu of production, the 10-year period restarts at the end of the period covered by the last rental payment if no production occurs.
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If the 10-year period restarts with fewer than 180 days remaining, it is extended to provide at least 180 days from the restart date.
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Oil is deemed not in production if the well is not located in the same quarter-quarter section where the mineral estate lies; gas is deemed not in production if the well is not in the same half-section.
Legislative Description
Mineral estates; revert to surface estate owner after ten-year period of nonproduction.
Last Action
Died In Committee
2/1/2022