SB 2156 Summary

• Amends Oklahoma oil and gas law (52 O.S. 2001, Section 87.1) relating to common sources of supply and well spacing units.

• Prohibits deduction of post-production costs from royalty payments to owners who have not voluntarily agreed to pool their interests in a well spacing unit.

• Clarifies statutory language by replacing "relative" with "relating" when referring to authorized costs in pooling disputes.

• Becomes effective November 1, 2010.