This bill aims to enhance the framework for geologic sequestration unitization in Wyoming by explicitly including pore space utilization as a key purpose of such unitization. It introduces new definitions related to economic benefits and unit areas, and amends existing application requirements for unitization, ensuring that applications include detailed descriptions of pore space and surface lands, as well as plans for determining economic benefits and pore space allocation. The bill also clarifies that unitization orders can accommodate the use of directional wells and mandates compliance with underground injection control class VI well and other environmental requirements.

Additionally, the bill modifies the findings required by the Wyoming Oil and Gas Conservation Commission before approving unitization applications, emphasizing the need for fair and reasonable allocation of economic benefits among pore space owners. It allows owners of pore space not included in a unitization application to petition for inclusion, ensuring they receive a proportionate share of economic benefits. The bill requires the commission to adopt rules for determining pore space storage capacity and economic benefits for successful petitioners, and it will apply to all geologic sequestration unitization orders issued after its effective date.

Statutes affected:
24LSO-0072 v1.0: 35-11-314, 35-11-315, 35-11-316