Regulates oil and gas operation and valuation
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To amend sections 1509.28 and 5713.051 of the Revised Code to revise provisions in the Oil and Gas Law governing unit operation, including requiring unit operation of land for which the Department of Transportation owns the mineral rights, and to specify that the discounted cash flow formula used to value certain producing oil and gas reserves for property tax purposes is the only method for valuing all oil and gas reserves.
As Passed by the House
CommitteesSenate Energy and Natural Resources Committee
House Energy and Natural Resources Committee