Oklahoma Relinquishment Provision - All offset Wells

State:
Multi-State
Control #:
US-OG-716
Format:
Word; 
Rich Text
Instant download

Description

This clause addresses the responsibilites in the event any Party elects not to participate in the drilling of a well and provides for the relinquishment of interest and assignments by that party.

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FAQ

No well shall be drilled nor shall any tank batteries, well facilities, or equipment be located and no permit shall be issued for any well to be drilled at any location which is nearer than three hundred (300) feet to any occupied or unoccupied dwelling or any other building used or designed and intended to be used for ...

The Corporation Commission received from the Legislature in 1915 the statutory responsibility for regulating the oil and gas exploration and production industries in Oklahoma.

Oil wells, after initial separation, produce crude oil and associated (also called casinghead) gas. Gas wells, after initial separation, produce gas well (nonassociated) gas and condensate.

Gas show. GS. A well classed as exploratory or development in which gas has been encountered but has not been proven or judged to be productive.

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Oklahoma Relinquishment Provision - All offset Wells