Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 1607-E. Oil and gas operations in the South Newark Basin

(1) The United States Geological Survey issued a report in June of 2012, entitled “Assessment of Undiscovered Oil and Gas Resources of the East Coast Mesozoic Basins of the Piedmont, Blue Ridge Thrust Belt, Atlantic Coastal Plain, and New England Provinces, 2011.”

(2) The report under paragraph (1) revealed a mean average of 876,000,000,000 cubic feet of total undiscovered natural gas resources in the South Newark Basin assessment unit.

(3) The unique geologic and geochemical characteristics of the South Newark Basin evaluated in the report under paragraph (1) have not been adequately evaluated by the Commonwealth and are deserving of further study.

(1) A study is completed by the Department of Conservation and Natural Resources, in consultation with the municipalities located in the South Newark Basin, evaluating the practical resource recovery implications of the report under subsection (a) and the fiscal impact of oil and gas operations on the South Newark Basin.

(2) Legislation authorizes the governing body of a county situated in whole or in part within the South Newark Basin that has spud a gas well located within its borders to elect whether to impose a fee on gas wells pursuant to 58 Pa.C.S. Ch. 23 (relating to unconventional gas well fee).