Relating to the creation of the criminal offense of oil and gas equipment theft.

SB 1054 creates a new criminal offense for stealing oil and gas equipment, such as drilling machinery, pipelines, or vehicles used in oil and gas operations. It defines this equipment broadly and sets penalties based on the stolen items' value: a state jail felony for equipment worth $2,500-$10,000, up to a first-degree felony for items valued at $300,000 or more. This law directly applies to individuals who unlawfully take such equipment with intent to deprive the owner, covering actions like removing, selling, or concealing it. The bill also allows prosecution under this law or other applicable statutes if the same conduct violates multiple laws.