How is that the Oklahoma Tax Commission classifies Major County production from a well as crude oil, natural gas and natural gas liquids while the operator classifies it and pays only as wet gas, residue gas and condensate. They do not pay for oil?
Some operators show wet gas as condensate, residue gas as natural gas and condensate as oil. The price will be a better indicator of the product. (Wet gas/condensate is measured in gallons) Does that help?
In Texas, oil from an oil well is classified as oil and oil from a gas well is classified as condensate for RRC reporting and generally on you check detail. This is different from plant condensate. There is a statutory definition of an oil well vs a gas well, but the RRC can override this, as it has done with Phantom (Wolfcamp) and other field rules. I do not know this is handled in Oklahoma.
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