West Virginia Gov. Jim Justice has signed two bills into law that could have far-reaching impacts for oil and natural gas producers. Justice signed HB 4268, which takes effect July 1 and enacts co-tenancy. The bill would require a producer to obtain consent from 75% of mineral rights owners of a single tract of land. The legislation modernizes mineral laws and should help producers block up larger tracts of land for longer laterals. Justice also signed SB 360, which prohibits producers from deducting post-production expenses from landowner royalty payments.It takes effect May 31.
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