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.
West Virginia Over-Production and Under-Production of Gas
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Multi-State
Control #:
US-OG-502
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Word;
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FAQ
Hay, grown to feed the state's livestock, is the #1 crop, providing 2% of West Virginia's total agricultural receipts. Other major crops of West Virginia are apples, corn for grain, soybeans and tobacco. Peaches and wheat are also grown in the state.
West Virginia is one of several states that is home to the Marcellus Shale (also known as The Marcellus Formation). The Marcellus Shale is a geologic formation of sedimentary (shale) rock that contains natural gas, and is one of the largest onshore natural gas fields in North America..
The top revenue industries for West Virginia in 2022 were: Hospitals ? $11.1 billion. Coal Mining ? $7.4 billion. Gas Stations with Convenience Stores ? $6.1 billion.
The state's diverse manufacturing sector includes chemicals, biotech/pharmaceuticals, primary metals, automotive components, fabricated products, wood products and more.
Provided $4.8 billion in labor income ($1.9 billion direct and $2.9 billion indirect) to West Virginia, 9.9 percent of the state's total. Contributed $12.9 billion to West Virginia's total gross domestic product ($8.1 billion direct and $4.7 billion indirect), 15.0 percent of the state's total.
It leads the nation in coal production from underground mines, and has the nation's second largest reserves behind Wyoming. West Virginia has an annual 13 million barrel coal-to-liquid fuel production capacity.
Ing to the 2023 Gas Facts, West Virginia: Produced 2.8 trillion cubic feet (TCF) of natural gas (+6%).
Despite the decline, West Virginia continues as a major exporter of coal for our country's electric power plants and the world's steel industries. Hydroelectric (water) power was the earliest electric power source in what would be West Virginia.
