§52-605. Exempted transfers.
The following transfers are exempted from the provisions of this act: 1. Transfers in the ordinary course of business. For the purposes of this act, transfers in the ordinary course of business shall include but not be limited to: a.the granting of a lease to explore and produce an energy resource asset, b.the assignment of […]
§52-570.15. Performance pursuant to act – Satisfaction of duties and obligation.
Notwithstanding the effective dates of various provisions of the Production Revenue Standards Act, performance under the terms of the Production Revenue Standards Act which causes proper payment of proceeds to owners legally entitled thereto for sales of gas production subsequent to the date of enactment but prior to the effective date of the Production Revenue […]
§52-581.1. Short title.
Sections 18 through 26 of this act and Section 546 of Title 52 of the Oklahoma Statutes shall be known and may be cited as the “Natural Gas Market Sharing Act”. Added by Laws 1992, c. 190, § 18, eff. Sept. 1, 1992.
§52-581.2. Purpose and intent of act.
It is the purpose and intent of the Natural Gas Market Sharing Act to protect the rights and correlative rights of all owners in wells producing natural gas including but not limited to casinghead gas and to afford all such owners an equal opportunity to produce and market their share of gas and to receive […]
§52-581.3. 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 […]
§52-581.4. Exemptions – Owners ineligible to elect to market share.
A. The following sales are exempt from the provisions of the Natural Gas Market Sharing Act: 1. Sales pursuant to contracts for an initial term of more than one (1) year entered into prior to January 1, 1985, or any successor, replacement, or rollover contract thereto entered into prior to January 1, 1990. This subsection […]
§52-581.5. Election to market share – Procedure.
A. For wells producing natural gas or casinghead gas, any owner not having a gas sales contract shall be entitled to elect to share in the sale of production, to the extent set forth in the Natural Gas Market Sharing Act. An electing owner shall give written notice of his election to the designated marketer. […]
§52-581.6. Election to market share – Effect.
An election to market share pursuant to the terms of the Natural Gas Market Sharing Act grants to any producing owner thereby required to share its market the authority to market its proportionate share of gas attributable to the working interest of such electing owner during the term of that election without further notice or […]
§52-581.7. Amount of gas produced from well.
On and after the effective date of the Natural Gas Market Sharing Act, an owner of a well producing natural gas or casinghead gas may produce from the well that amount of gas which may be lawfully produced therefrom; however, the foregoing shall not diminish the rights of each owner against an overproduced owner by […]
§52-581.8. Distribution of revenues from sale of production.
Proper distribution of revenues from the sale of production from the well shall be made pursuant to the provisions of Section 540 of this title and the Production Revenue Standards Act, Sections 1 through 15 of this act. Added by Laws 1983, c. 77, § 5, emerg. eff. May 3, 1983. Amended by Laws 1992, […]