Clarifies the process for royalty payments for oil and gas wells in West Virginia.

West Virginia HB4867 clarifies the process for royalty payments for oil and gas wells. It mandates that operators and producers provide detailed information with each payment, including production data, prices received, and severance taxes paid. The bill outlines specific timelines for royalty payments and imposes penalties for late payments. It also establishes auditing and transparency requirements, ensuring that lessors receive accurate and timely information.

Clarifies the process for royalty payments for oil and gas wells in West Virginia.

West Virginia HB4867 clarifies the process for royalty payments for oil and gas wells. It mandates that operators and producers provide detailed information with each payment, including production data, prices received, and severance taxes paid. The bill outlines specific timelines for royalty payments and imposes penalties for late payments. It also establishes auditing and transparency requirements, ensuring that lessors receive accurate and timely information.