New North Dakota Oil Legislations

North Dakota HB 1439 was introduced January 14.  This Bill proposes that the incremental production from a tertiary recovery project that injects more than 50% carbon dioxide produced from coal and has been certified as a qualified project by the industrial commission is exempt from the oil extraction tax for 20 years.  To qualify for the exemption, the project must be located outside the Bakken and Three Forks formations and must use carbon dioxide produced from coal.

This Bill also proposes that the incremental production from a tertiary recovery project that injects more than 50% carbon dioxide produced from coal and has been certified as a qualified project by the industrial commission is exempt from the oil extraction tax for 10 years.  To qualify for the exemption, the project must be located inside the Bakken and Three Forks formations and must use carbon dioxide produced from coal.

If passed it will be effective July 1, 2019.

 

North Dakota HB1449 was introduced January 14.  This Bill proposes to amend the oil extraction tax rate from 5% to 6.5% and further remove the price triggers.  If passed it will be effective June 30, 2019.

 

Read more at North Dakota Legislative Branch