Members of the Oklahoma Energy Producers Alliance applauded the recent signing of the Oklahoma Oil & Gas Lien Act into law by Gov. Kevin Stitt.
They were on hand for the signing ceremony at State Capitol as Senate Bill 632 became law.
“This is a huge legislative win for Oklahoma producers,” said OEPA Chairman and Owner of Keener Oil & Gas Company in Tulsa, OK, Dewey Bartlett. “We now know that small producers in Oklahoma are protected in the future.”
SB632 modifies the Oklahoma Oil & Gas Lien Act to include additional types of oil and gas proceeds as priority claims in bankruptcy. It will now include pooling bonuses, Oil & Gas Lease revenues bonuses and uncompleted minerals sales transactions to be included as first priority lien holders in bankruptcy filings. The bill was authored by Senator Zack Taylor (R-Seminole) and coauthored by Representative Marcus McEntire (R-District 50).
“We are thankful to have a robust volunteer Legislative Committee that set an agenda at the beginning of the year,” said President of OEPA and Owner of Kingery Energy in Ardmore, OK, David Little. “They worked tirelessly to push this important piece of legislation through the legislative process.”
Those members and others on hand for the ceremony as shown in the picture were: Representative Kevin Boyles (left), Sydney Hill, OEPA Board Member Darlene Wallace, OEPA Board Member Parker Bowles, OK Governor Kevin Stitt, OEPA member Michael Booze, Senator Zack Taylor, OEPA Board Member David Guest, OEPA Board Member Joe Warren, OEPA Lobbyist Greg Piatt.
Source: OEPA press release
