Two weeks ago I blogged about the PA House of Representative’s passing of the Senate Bill 297 which allows the public to have production data from operators in the Marcellus Shale. The data will be reported on a monthly basis but only has to be submitted semi-annually. Since then we have been waiting for the bill to be passed and signed in the Senate, signed in the House and signed into law by the Governor. By March 18, 2010 the bill was signed in both the Senate and the House, and on March 22, 2010 Gov. Rendell signed the bill into law.
What this means to the industry is that Pennsylvania oil and gas activity will now be more transparent adding more current production information to publicly available data. According to the bill the reports will be available November 1, 2010 on the Department of Environmental Protection (DEP) website. Prior to this bill the public had to wait at least 5 years before production volumes were released meaning that the latest data was 5-6 years old. This legislation has come at a great time with all of the interest in the Marcellus Shale.
To learn more about the Marcellus Shale visit the Marcellus Shale folder in the DI Unconventional Updates.
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