HB0141

Official summary

Bill Summary - 24LSO-0221 Bill No.: HB0141 Effective: Immediately LSO No.: 24LSO-0221 Enrolled Act No.: HEA No. 0034 Chapter No.: 64 Prime Sponsor: Western Catch Title: State land oil and gas leases-operator requirement. Has Report: No Subject: Requiring review of oil-and-gas state land lease bidders for qualifications. Summary/Major Elements: This act requires the Director of the Office of State Lands and Investments to use criteria that the Board of Land Commissioners establish to review the highest bid for an oil-and-gas lease on state lands to ensure that the applicant is a qualified oil-and-gas lease applicant. Under this act, if the highest bidder is not qualified, then the Board of Land Commissioners must consider the second highest bidder to determine whether that bidder is a qualified applicant. If the applicant is qualified, then the Board may issue the lease if the applicant agrees to lease the lands for the highest amount bid before the disqualified applicant entered the lease auction or process or for the amount that the bidder bid, whichever is lower. Any applicant whose bid is rejected for failing to meet the specified qualifications is subject to a civil penalty in the amount of that applicant's highest bid. The attorney general may bring an action to recover the civil penalty from that bidder. The act requires the Board of Land Commissioners to promulgate rules to implement the act, including promulgating rules to define "qualified bidder" or "qualified oil-and-gas applicant" for purposes of bidding on an oil-and-gas lease on state land. Nothing in the act is to be construed to impair or amend any lease or lease agreement for oil-and-gas production on state lands before the effective date of this act. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.