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§ 581.3. Definitions

Oklahoma Statutes AnnotatedTitle 52. Oil and Gas

Oklahoma Statutes Annotated
Title 52. Oil and Gas (Refs & Annos)
Chapter 13B. Natural Gas Market Sharing Act (Refs & Annos)
52 Okl.St.Ann. § 581.3
§ 581.3. Definitions
As used in the Natural Gas Market Sharing Act:
1. “Designated marketer” means the operator of the well or a producing owner substituted for the operator as provided in Section 22 of this act;1
2. “Electing owner” means any owner who elects to produce and market its share of production pursuant to the provisions of this act;
3. “Nonexempt sales” means those gas sales which are subject to the provisions of this act and do not qualify for exemptions as set forth in Section 21 of this act;2
4. “Overproduced owner” means an owner who has produced and sold a volume of gas in excess of his working interest percentage of cumulative sales from a well;
5. “Owner” means a person or persons who own a working interest in a well;
6. “Producing owner” means an owner who produces and sells gas from a well for its own account; and
7. “Working interest” means the interest in a well, calculated prior to deduction for royalty, overriding royalty and other non-cost-bearing interests burdening production, entitling the owner thereof to drill for and produce oil and gas, including the interest of a participating mineral owner to the extent set forth in Section 87.1 of Title 52 of the Oklahoma Statutes.

Credits

Laws 1992, c. 190, § 20, eff. Sept. 1, 1992.

Footnotes

Title 52, § 581.5.
Title 52, § 581.4.
52 Okl. St. Ann. § 581.3, OK ST T. 52 § 581.3
Current with legislation of the Second Regular Session and First and Second Extraordinary Sessions of the 58th Legislature (2022).
End of Document