1. Forced Pooling is the taking of an individual’s personal property rights.
2. Forced Pooling would allow companies to forcibly take private property for the benefit of private corporations.
3. The West Virginia State Tax Department estimates that there are 500,000 owners of oil and gas in West Virginia.
4. Thus, approximately 1 out of every 4 people in West Virginia own oil and gas minerals and would be subject to forced pooling.
5. Up until recently, there was no group or Association representing these Mineral Owners in the hearings or discussions in Charleston on the forced pooling issue.
6. The current proposed legislation does not take into account the fact that horizontal drilling is going to happen in many different formations under the same tract in the future.
7. Under the proposed legislation, one 80 acre unit well will be able to hold as many as 560 (640 – 80 = 560) acres of “banked” and non developed acres forever.
8. Force pooling should only be done after 95% of the unit has been leased by the company requesting forced pooling of the unit.
9. This pending forced pooling legislation is going to cost mineral owners many millions of dollars in royalty payments if it is passed.