This bill aims to amend and reenact section 22-6-2 of the Code of West Virginia, specifically addressing the bonding for wells used for the extraction or placement of certain liquids or gas. A significant change proposed in the bill is the removal of the cap on the number of wells for which operators are required to pay an annual oversight fee. The bill specifies that operators will be charged an oversight fee of $350 for each well producing more than 250,000 cubic feet of gas per day, $75 for those producing between 60,000 and 250,000 cubic feet, and $25 for wells producing between 10,000 and 60,000 cubic feet. Additionally, operators with 500 or fewer unplugged wells producing less than 60,000 cubic feet are exempt from these fees.

The bill also outlines the powers and duties of the Secretary of the Office of Oil and Gas, including the authority to supervise oil and gas inspectors, conduct inspections, and collect permit fees. The Secretary is tasked with ensuring compliance with existing laws and regulations related to oil and gas operations, as well as maintaining public records of inspections. Overall, the proposed changes are intended to enhance oversight and regulation of oil and gas wells in West Virginia by eliminating the previous limitations on the number of wells subject to oversight fees.

Statutes affected:
Introduced Version: 22-6-2