summary
Introduced
02/04/2025
02/04/2025
In Committee
Crossed Over
Passed
Dead
03/22/2025
03/22/2025
Introduced Session
Potential new amendment
2025 Regular Session
Bill Summary
AN ACT RELATING TO THE OIL CONSERVATION DIVISION; PROVIDING THAT THE DIVISION MAY MAKE RULES AND ORDERS REGULATING THE TRANSFER OF OIL AND GAS WELLS, INCLUDING LIMITATIONS ON CERTAIN TRANSFERS.
AI Summary
This bill amends the powers of the Oil Conservation Division by expanding its regulatory authority to include specific rules governing the transfer of oil and gas wells. The bill allows the division to place limitations on well transfers under certain conditions, such as when the transferor or transferee has outstanding violations of the Oil and Gas Act, has been involved in enforcement actions related to spills or releases, or is not in compliance with natural gas capture or reporting requirements. The division can also restrict transfers if the transferee fails to provide adequate financial assurance, lacks sufficient financial capacity to manage well-related liabilities, or if the division determines that transfer limitations are necessary to mitigate potential risks to the state from inactive or abandoned wells. This expanded authority aims to ensure more responsible ownership and management of oil and gas wells by giving the Oil Conservation Division greater oversight and control during ownership transfers, with the ultimate goal of protecting public resources, environmental safety, and the state's financial interests.
Committee Categories
Agriculture and Natural Resources
Sponsors (2)
Last Action
House Energy, Environment and Natural Resources Committee (08:00:00 2/15/2025 Room 317) (on 02/15/2025)
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=257&year=25 |
Fiscal Note | https://www.nmlegis.gov/Sessions/25%20Regular/firs/HB0257.PDF |
House HENRC1 HB257 230604 Committee Amendment | https://www.nmlegis.gov/Sessions/25%20Regular/Committee_Subs_And_Amendments/HB0257EN1%20230604.pdf |
BillText | https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0257.pdf |
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