SB 319 passes out of Senate Finance - March 31, 2002

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 2002

Vol. 7, No. 13

Week of March 31, 2002

SB 319 passes out of Senate Finance

Petroleum News Alaska Staff

Senate Bill 319, which would make the state’s shallow gas leasing program viable for commercial operators, passed out of the Senate Finance Committee March 26.

The bill allows individuals to hold up to 100,000 acres, the amount of acreage industry supporters say is needed to make a shallow gas project commercial. It also includes gas below 3,000 feet as long as a portion of a field is above 3,000 feet.

SB 319 also increases the application fee for a shallow gas lease from $500 to $5,000 and the rent from 50 cents an acre to $1 an acre.

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