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Pennsylvania Grade Crude Oil is a type of sweet crude oil (sweet crude oil), found primarily in the Appalachian basin in the Marcellus Formation in the states of New York, Pennsylvania, Ohio, and West Virginia, and takes its name for the state of Pennsylvania, where it was first extracted in 1859 from the Drake Well.
O&G Lease (terminate) RELEASE: releases of property rights and/or other legal rights that the owner would otherwise be entitled to under law.
Pennsylvania State Energy Profile Pennsylvania's marketed natural gas production, primarily from the Marcellus Shale, reached a record 7.6 trillion cubic feet in 2021, and the state is the nation's second-largest natural gas producer after Texas.
DEP's Office of Oil and Gas Management is responsible for the statewide oil and gas conservation and environmental programs to facilitate the safe exploration, development, recovery of Pennsylvania's oil and gas reservoirs in a manner that will protect the commonwealth's natural resources and the environment.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
Act 13 of 2012 is a comprehensive law that affects Oil and Gas Operations in the state. Major Functions: Collects an impact fee on all unconventional wells drilled in the state. Creates the Natural Gas Development Program to increase the use of natural gas for transportation.
The Oil and Gas Act (58 P.S. §§ 601.101 - 601.605), which was signed into law in December 1984 and became effective April 18, 1985, established an Abandoned Well Restricted Revenue Account for use by the Department of Environmental Protection (DEP) in carrying out its activities under the Act and to plug abandoned ...
On November 3, 2022, the Pennsylvania General Assembly enacted Senate Bill 806, which amends the Oil and Gas Lease Act of 1979 (P.L. 183, No. 60). The new act seeks to increase transparency around the payment of royalties from oil and natural gas operators to landowners pursuant to their lease agreements.