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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 165. Corporation Commission |
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Chapter 10. Oil & Gas Conservation |
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Subchapter 24. Market Sharing |
SECTION 165:10-24-2. Definitions
Latest version.
- The following words or terms, when used in this Subchapter, shall have the following meaning, unless the context clearly indicates otherwise:"Designated marketer" means the operator of the well or a producing owner substituted for the operator as provided in 165:10-24-5."Electing owner" means any owner who elects to produce and market its share of production pursuant to the provisions of this Subchapter."Nonexempt sales" means those gas sales which are subject to the provisions of this Subchapter and do not qualify for exemptions as set forth in 165:10-24-1(c) and 165:10-24-3(b)."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."Owner" means a person or persons who own a working interest in a well."Producing owner" means an owner who produces and sells gas from a well for its own account."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.