One-Time Lease Extension Bill Approved by State House of Reps

Posted: April 9, 2013 at 7:35 am

The State House yesterday passed House Bill 198 a bill to allow the Commissioner of the Department of Natural Resources the ability to offer one-time lease extensions to oil and gas or gas-only lease holders provided they meet certain benchmarks. HB 198, sponsored by the House Labor & Commerce Committee, Soldotna Representative Kurt Olson Chairs that committee…

 

Rep. Olson(R-Soldotna): “It allows them to extend leases for up to ten-years, and hopefully get ether oil and or gas prospects that are showing promise almost online, but not quite, the ability to come online.”

 

HB 198 now moves to the State Senate

 

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