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Apresentacao P 7

Apresentacao P 7

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Published by mts1234

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Published by: mts1234 on Dec 13, 2012
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02/27/2015

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 Marginal Wells Presentation 
Presented by a member of the Marginal Well Commission
 
What is the Marginal Well Commission?
In the 1980’s, a group of oil and natural gas industry producers formedan association called “Save Our Strippers.”
In 1992, the Oklahoma Legislature created the Commission onMarginally Producing Oil and Gas Wells. Senate Bill 684, now Title 52
O.S. Section 700.
Marginal oil or gas is produced from low-
volume “stripper” wells –
 defined by the IOGCC as producing less than 10 barrels of oil or 60,000 cubic feet of gas per day.
The Marginal Well Commission is the only organization of its kind in thenation.
Funded by a voluntary fee of $.0035 on each barrel of crude oilproduced in the state and $.00015 of every 10,000 cubic feet of naturalgas produced. Requests for refunds can be made during the first 3months of the calendar year. Last year, less than 1% of the budgetwas refunded.
 
What is the Marginal Well Commission?(Cont.)
Mission Statement:
The mission of the Commission on Marginally Producing Oil andGas Wells is to serve the Governor, Legislators, oil and gasindustry and public by defining, identifying, and evaluating theeconomic and operational factors that affect marginally producingoil and gas wells, and to assure that appropriate efforts are madeto extend the life of these wells so energy can be economicallyprovided to all citizens of the State of Oklahoma.

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