SB 1054 creates the criminal offense of oil and gas equipment theft by expanding the existing offense of petroleum product theft under the Texas Penal Code. It defines "oil and gas equipment" to include machinery, drilling tools, pipeline fittings, pumps, vehicles, and other materials used in oil and gas operations. The bill makes it a criminal offense to unlawfully appropriate such equipment with intent to deprive the owner by possessing, removing, delivering, receiving, purchasing, selling, moving, concealing, or transporting it without the owner’s consent. The severity of the offense is based on the value of the stolen equipment, ranging from a state jail felony for theft valued at $2,500 to less than $10,000, up to a first-degree felony for theft valued at $300,000 or more. The bill allows prosecution under this law or any other applicable statute, reinforcing penalties for theft in the oil and gas industry​.