Okla. Stat. tit. 52 § 581.3

Current through Laws 2024, c. 453.

Section 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;

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;

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.

Okla. Stat. tit. 52, § 581.3

Added by Laws 1992, SB 168, c. 190, § 20, eff. 9/1/1992.