Skip to main content
Find a Lawyer

Arkansas Code Title 15. Natural Resources and Economic Development § 15-71-107. Control or regulation of oil and gas production--Assessment on production--Use of money--Increase in assessment

Current as of March 28, 2024 | Updated by Findlaw Staff

(a)(1) All common sources of supply of crude oil discovered after January 1, 1937, if so found necessary by the Oil and Gas Commission, shall have the production of oil therefrom controlled or regulated in accordance with the provisions of this act.

(2)(A)(i) The commission is authorized to assess from time to time against each barrel of oil produced and saved a charge not to exceed fifty (50) mills on each barrel.

(ii) The charge that may be assessed pursuant to this subsection shall apply to each barrel of oil produced and saved, including that from common sources of supply discovered prior to January 1, 1937.

(B) All moneys so collected shall be used solely to pay the expenses and other costs in connection with the administration of this law.

(b)(1) All common sources of supply of natural gas discovered after January 1, 1937, if so found necessary by the commission, shall have the production of gas therefrom controlled or regulated in accordance with the provisions of this act.

(2)(A)(i) The commission is authorized to assess from time to time against each one thousand cubic feet (1,000 cu. ft.) of gas produced and saved from a gas well a charge not to exceed ten (10) mills on each one thousand cubic feet (1,000 cu. ft.) of gas.

(ii) The charge that may be assessed pursuant to this subsection shall apply to each one thousand cubic feet (1,000 cu. ft.) of natural gas produced and saved, including that from common sources of supply discovered prior to January 1, 1937.

(B) All moneys collected under subdivision (b)(2)(A)(i) of this section shall be used as follows:

(i) The first four and one-half (4 1/2 ) mills of each gas assessment levied each fiscal year until July 1, 2023, shall be deposited as general revenues; and

(ii) The remainder shall be used to pay the expenses and other costs in connection with the administration of this law.

(c) Before the commission implements the collection process of any increase in the millage assessment that may be authorized by law on each barrel of oil or on each one thousand cubic feet (1,000 cu. ft.) of gas, the commission shall first seek review from the Legislative Council or the Joint Budget Committee.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-71-107. Control or regulation of oil and gas production--Assessment on production--Use of money--Increase in assessment - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-71-107/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard