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Tag: Abandoned wells
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February 1, 2019
Oil and Gas Abandoned Well Plugging Fund
This week we saw some bills related to conventional oil wells, HB 2673 - Creating the Oil and Gas Abandoned Well Plugging Fund. The bill will cut the oil severance tax on applicable wells (producing less than 60,000 cu. Ft. per day) from 5% to 0% but introduce a rate of 2.5%.
Oil and gas