Clarifying processes of royalty payments for wells in this state

SB 1005 requires oil and gas operators in West Virginia to provide detailed monthly reports to royalty owners (mineral rights holders) for all wells. Reports must include well identification, production volumes, sale prices, deductions, and the owner's share of proceeds. Operators must pay royalties within 120 days of production (or 90 days for subsequent sales) and may accumulate payments until exceeding $100, but must pay at least annually. Late payments trigger interest penalties at the prime rate plus 2%, compounded quarterly, with operators liable for legal fees if sued for noncompliance. The bill aims to increase transparency and ensure timely payments for royalty owners.