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Relating to the terms of dissolution of an oil or gas pooled unit.
No significant fiscal implication to the State is anticipated.
HB 3226 would update the terms of dissolution for an oil and gas pooled unit under the Mineral Interest Pooling Act. Currently such a unit would dissolve automatically if it had no production for a one year period after its effective date. This bill would revise automatic dissolution to happen after two years without production. The bill would also recognize horizontal wells for this purpose.
Texas Action remains neutral on HB 3226 as it does not affect our liberty principles.