Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1514 Compare Versions

Version 1 (Old)

Version 2 (New)

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4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
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	31	+	STATE OF OKLAHOMA
	32	+
	33	+	2nd Session of the 59th Legislature (2024)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 1514 By: Paxton of the Senate
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8	38		and
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10	40		Boles of the House
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15	45		An Act relating to the Commissioners of the Land
16	46		Office; amending 52 O.S. 2021, Section 570.14, which
17	47		relates to the Production Revenue Standards Act;
18	48		providing certain statutes of limitations be applied
19	49		to the Office; amending 64 O.S. 2021, Section 1073,
20	50		which relates to oil and gas leases of the Office;
21	51		conforming language; and providing an effective date.
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27		-	SUBJECT: Commissioners of the Land Office
28		-
29	57		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
30		-
31	58		SECTION 1. AMENDATORY 52 O.S. 2021, Section 570.14, is
32	59		amended to read as follows:
33		-
34	60		Section 570.14. A. The district courts wit hin this state shall
35	61		have the sole and exclusive jurisdiction to determine the
36	62		entitlement of any owner i n a well to:
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38	63		1. Its share of proceeds from production; or
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40	64		2. Damages, interest, court costs, attorneys’ attorney fees or
41	65		allowable litigation expense s incurred as a result of the violation
42	66		of this act the Production Revenue Standards Act .
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	68	+	SB1514 HFLR Page 2
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44	94		B. Any rulemaking power granted to the Corporation Commission
45	95		by the Production Revenue Standards Act shall neither preclude nor
46	96		impair the right of any owner to obt ain through the district courts
47		-
48		-	ENR. S. B. NO. 1514 Page 2
49	97		remedies available under existing law or additional remedies herein
50	98		granted to any owner injured in business or property by reason of
51	99		any action in violation of the provisions of the Production Revenue
52	100		Standards Act.
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54	101		C. Any owner injured in business or property by r eason of any
55	102		action in violation of the provisions of the Prod uction Revenue
56	103		Standards Act shall have the right to:
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58	104		1. Recover actual damages so sustained; and
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60	105		2. Obtain specific performance where equitable.
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62	106		The prevailing party in any court proceeding brought pursuant to the
63	107		Production Revenue Standards Act shall be entitled to recover the
64	108		costs of the suit, including but not limited to reasonable attorney
65	109		and expert witness fees.
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67	110		D. 1. For purposes of the Pro duction Revenue Standards Act,
68	111		the statute of limitations on actions brought pursuant to the
69	112		provisions of the Production Revenue Standards Act shall be five (5)
70	113		years from the date the cause of action shall have accrued ,;
71	114		provided, however, nothing shall create, limit or expand any statute
72	115		of limitations applicable to production occurring prior to September
73	116		1, 1992.
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75	144		2. The statute of limitations provided for pursuant to this
76	145		subsection shall also apply to the Commissioners of the Land Office.
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78	146		SECTION 2. AMENDATORY 64 O.S. 2021, Section 1073, is
79	147		amended to read as follows:
80		-
81	148		Section 1073. A. The royalty proceeds derived from the sale of
82	149		oil or gas production under any oil and gas lease granted by the
83	150		Commissioners of the Land Offic e shall be paid to the Commissioners
84	151		pursuant to the terms of the Production Revenue Standards Act.
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86	152		B. The statute of limitations established pursuant to Section
87	153		570.14 of Title 52 of the Oklahoma Statutes shall apply to the
88	154		Commissioners of the Land Offi ce as it relates to the Production
89	155		Revenue Standards Act.
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92		-	ENR. S. B. NO. 1514 Page 3
93	156		SECTION 3. This act shall beco me effective November 1, 2024.
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95		-	Passed the Senate the 14th day of March, 2024.
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98		-
99		-	Presiding Officer of the Senate
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102		-	Passed the House of Representatives the 16th day of April, 2024.
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104		-
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106		-	Presiding Officer of the House
107		-	of Representatives
108		-
109		-	OFFICE OF THE GOVERNOR
110		-	Received by the Office of the Governor this _______ _____________
111		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
112		-	By: _________________________________
113		-	Approved by the Governor of the State of Oklahoma this _______ __
114		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
115		-
116		-	_________________________________
117		-	Governor of the State of Oklahoma
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119		-
120		-	OFFICE OF THE SECRETARY OF STATE
121		-	Received by the Office of the Secretary of State this _______ ___
122		-	day of _________________ _, 20 _______, at _______ o'clock _______ M.
123		-	By: _________________________________
	158	+	COMMITTEE REPORT BY: COMMITTEE ON ENERGY AND NATURAL RESOURCES,
	159	+	dated 04/04/2024 - DO PASS.