This is a form dealing with the Over-Production and Under-Production of Gas, the event Assignor's gas production, if any, from the Assigned Property is in excess of or less than Assignor's interest in the Property, then Assignee shall acquire Assignor's interest subject to that over-production or under-production.
Pennsylvania Over-Production and Under-Production of Gas
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Multi-State
Control #:
US-OG-502
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FAQ
Pennsylvania is the second-largest natural gas-producing state, reaching a record 7.6 trillion cubic feet in 2021.
Pennsylvania sits on nearly 63 trillion cubic feet of natural gas.
Data ReservesCrude Oil (as of Dec. 31)8 million barrels2021Expected Future Production of Dry Natural Gas (as of Dec. 31)105,564 billion cu ft2021Expected Future Production of Natural Gas Plant Liquids957 million barrels2021Recoverable Coal at Producing Mines1,370 million short tons20216 more rows ?
We estimate that the United States had 44,418 million barrels of proved reserves of crude oil and lease condensate as of December 31, 2021?an increase of 16% from year-end 2020.
Pennsylvania is ranked #2 in the US based on Barrels of Oil Equivalent (BOE) produced in Dec 2022.
Pennsylvania oil production peaked in 1891, and was later surpassed by western states such as Texas and California, but some oil industry remains in Pennsylvania.
Sitting atop the prolific Marcellus and Utica shale plays, Pennsylvania is a natural gas production powerhouse ? thanks to responsible production using modern hydraulic fracturing and horizontal drilling.
As of 2012, Pennsylvania oil fields had produced approximately 1.4 billion barrels of crude oil. That's more than enough oil to fill 6.5 million swimming pools 20 feet in diameter and four feet deep.
