Shale Daily / NGI All News Access

Industry Brief

Pennsylvania Gov. Tom Corbett has signed a bill into law requiring operators to report production on a monthly basis. The state legislature unanimously supported the bill (see Shale DailyOct. 21). The law will go into effect next year, with the first reports due by March 31 and after that within 45 days of the reporting period's close. Pennsylvania operators were previously required to report production twice a year, or every six months. Corbett also signed a bill requiring exploration and production companies to provide a document to leaseholders detailing the expiration of a lease. The bill, which was sponsored by a Republican state representative, is aimed at clarifying uncertainties about when exactly a lease expires. Operators will now have to provide a document that surrenders interests to the land within 30 days of the lease's termination.

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