Search results
Results from the WOW.Com Content Network
The members are appointed by the governor of Oklahoma, with the consent of the Oklahoma Senate. Each member serves a fixed three-year term. It is the duty of the committee to appoint an executive director to oversee the day-to-day operations and programs under the jurisdiction of the committee. The current executive director is James Revard.
The Oklahoma Energy Resources Board (abbreviated OERB) is an agency of the state of Oklahoma.Funded voluntarily by Oklahoma's oil and natural gas producers and royalty owners, the OERB conducts environmental restoration of orphaned and abandoned well sites, encourages the wise and efficient use of energy, and promotes energy education.
The original owner of an oil and gas lease will sometimes retain an overriding royalty as part of a farmout agreement. For any oil and gas property, the total working interests must add up to 100%. The sum of the net revenue interests, royalty interests, and overriding royalty interests, must also add up to 100%.
The companies obtain exclusive rights to extract crude oil and natural gas in a defined area for a limited time. If more than one company are assigned a license, the government will provide a joint operating agreement which states each partners equity share.
A surface use agreement (SUA) is a contract between a property owner and a mineral rights holder that dictates how the mineral rights are to be developed. [20] Meaning, when mineral rights are extracted by a company that does not own the property above where the minerals are located, the company has the legal right to extract those minerals ...
In production sharing agreements the country's government awards the execution of exploration and production activities to an oil company. The oil company bears the mineral and financial risk of the initiative and explores, develops and ultimately produces the field as required. When successful, the company is permitted to use the money from ...
The Oklahoma Plan for Tar Creek has listed four main objectives in the process: improving surface water quality, reducing exposure to lead dust, attenuating mine hazards, and land reclamation. [8] The University of Oklahoma's Department of Civil Engineering and Environmental Science has implemented a 1.2 million dollar passive water treatment ...
“APCO” was a common acronym used within the Anderson-Prichard Oil Corporation since its founding in 1922. As early as 1926, Anderson-Prichard began attempts at trademarking the acronym, first through overtures to the American Pacific Company, and later through communications with the American Oil Company, whose trading name AMOCO was thought to be too similar.