The Oklahoma Energy Producers Alliance joined Oklahoma Governor Kevin Stitt as he signed Senate Bill 632, the Oklahoma Oil & Gas Lien Act, into law.

“This is a huge legislative win for Oklahoma producers,” said OEPA Chairman and Owner of Keener Oil & Gas Company in Tulsa, OK, Dewey Bartlett. “We now know that small producers in Oklahoma are protected in the future.”

SB632 modifies the Oklahoma Oil and Gas Lien Act to include additional types of oil and gas proceeds as priority claims in bankruptcy. It will now include pooling bonuses, Oil & Gas Lease revenues bonuses and uncompleted minerals sales transactions to be included as first priority lien holders in bankruptcy filings. The bill was authored by Senator Zack Taylor (R-Seminole) and coauthored by Representative Marcus McEntire (R-District 50).

“We are thankful to have a robust volunteer Legislative Committee that set an agenda at the beginning of the year,” said President of OEPA and Owner of Kingery Energy in Ardmore, OK, David Little. “They worked tirelessly to push this important piece of legislation through the legislative process.”

About OEPA

Oklahoma Energy Producers Alliance is a group of Oklahoma oil and gas companies concerned with protecting our rights as small business oil and gas producers and royalty owners at the State Capitol and the Corporation Commission. For more information, visit www.okenergyproducers.org.